Trucking news and briefs for Wednesday, July 20, 2022:
Compared with June 2021, the index increased 7.9%, which was the tenth straight year-over-year gain and the largest since June 2018.
“June’s jump tells me a couple of things: first, the transition in the freight market from spot back to contract continues -- ATA’s tonnage index is dominated by contract freight, so while the spot market has slowed as freight softens, contract carriers are backfilling those losses with loads from shippers reducing spot market exposure,” said ATA Chief Economist Bob Costello.
“Essentially, the market is transitioning back to pre-pandemic shares of contract versus spot market. Second, and perhaps equally important, while economic growth is expected to be soft overall in the second quarter, the goods-economy wasn’t as bad as feared.”
May’s increase was revised down from ATA’s June report.
Compared with June 2021, the SA index increased 7.9%, which was the tenth straight year-over-year gain and the largest since June 2018. In May, the index was up 3.5% from a year earlier.
The not seasonally adjusted index, which represents the change in tonnage actually hauled by fleets before any seasonal adjustment, equaled 124.5 in June, 4.2% above the May level (119.5).
