The American Trucking Associations reported on Tuesday that its advanced seasonally adjusted For-Hire Truck Tonnage Index decreased by 1% in November, following a 0.8% increase in October. Without seasonal adjustment, the predominantly contract-freight index fell by 5.1% in November compared to October.
ATA Chief Economist Bob Costello commented, “We continued to see a choppy 2023 for truck tonnage into November. It seems like every time freight improves, it takes a step back the following month. While year-over-year comparisons are improving, unfortunately, the freight market remains in a recession. Looking ahead, with retail inventories falling, we should see less of a headwind for retail freight, but I’m also not expecting a surge in freight levels in the coming months.”
Written by Ken Miller, President of StateWay Logistics
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StateWay Logistics can be your one stop logistics provider, see how we can help design custom solutions for your business.