U.S. for-hire truck tonnage grew 2.8% in August, on the heels of a 1.5% decrease in July, according to the latest data from the American Trucking Associations (ATA).
“Tonnage snapped back in August after a weaker than expected July,” said ATA chief economist Bob Costello. “With the economy in transition to slower growth and changing consumer patterns, we may see more volatility in the months ahead. But the good news is that we continue to witness areas of freight growth in consumer spending and manufacturing, which is helping to offset the weakness in new home construction.”
Truck tonnage was up 7.4% year over year in August, marking the twelfth straight month of y-o-y gains, and the largest increase since June 2018. Year to date through August, tonnage is up 3.9%, the ATA reports.