Trucking news and briefs for Wednesday, June 23, 2021:
ATA Truck Tonnage Index falls for second straight month
The American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index decreased 0.7% in May after falling 0.6% in April. The index was 113.7 in May, compared to 114.5 in April.
“Tonnage, despite falling slightly over the last two months, remains well above the lows of last year,” said ATA Chief Economist Bob Costello. “This is no small deal considering that truck tonnage fell significantly less than many other indicators during the depths of the pandemic in the spring of 2020.”
Costello noted that gasoline shipments are helping keep tonnage elevated as demand for travel increases.
ATA's Truck Tonnage Index fell in May but still remains well above the lows of 2020.
“I’m also expecting retail freight to remain robust as inventories are at historic lows,” he said. “As retail stocks are rebuilt, it will boost freight. As has been the case for some time, trucking’s biggest challenges are not on the demand side, but on the supply side, including difficulty finding qualified drivers.”
Compared with May 2020, the seasonally adjusted index rose 3.7%, which was preceded by a 6.7% year-over-year jump in April. Year-to-date, compared with the same five months in 2020, tonnage is up 0.4%.
