The American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index rose 0.2% in March after increasing 0.5% in February. (February’s rise was unchanged from the preliminary gain reported on March 27th.)
The SA index stood at 119.5 (2000=100), up from 119.3 in February. Compared with March 2011, the SA index was up 2.7%, which was the smallest year-over-year increase since December 2009.
The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 123.2 in March, which was 9.1% above the previous month.
“March tonnage, and the first quarter overall, was reflective of an economy that is growing, but growing moderately,” ATA Chief Economist Bob Costello said. “The pace of freight definitely slowed from the torrid pace in late 2011. Most economic indicators still look good, which will continue to support tonnage going forward.”
Costello also noted that the industry should not expect the rate of growth seen over the last couple of years, when tonnage grew 5.8% in both 2010 and 2011.
“Expect tonnage overall this year to be up at a more moderate rate, perhaps less than 3%, which is more in-line with normal growth.”