The American Trucking Associations (ATA) reported a significant 3.6% increase in their advanced seasonally adjusted For-Hire Truck Tonnage Index for May, following a 1% decline in April.
The index reached 115.9 in May, up from April’s 111.9.
“May marked the first increase in tonnage both sequentially and year-over-year since February 2023,” noted ATA Chief Economist Bob Costello. He added that while there was a notable rise in freight before Memorial Day, it’s too soon to determine if this signals a long-term recovery in the truck freight market.
Compared to May 2023, the index rose 1.5%, the first year-over-year gain in fifteen months. The not seasonally adjusted index, which tracks actual hauled tonnage, jumped 7.1% to 120.4 in May from April.
Trucking is a key indicator of the U.S. economy, carrying 72.6% of domestic freight. The ATA calculates the tonnage index based on member surveys and updates it monthly.
