Freight tonnage decreased a seasonally adjusted 1.3% in August, according to the American Trucking Assns.’ Truck Tonnage Index released today. This follows a revised 0.5% drop in July.
“Truck tonnage data for July and August, on a month-to-month basis, show an economy that took a summer breather, especially in retail sales,” said ATA chief economist Bob Costello.
However, recent economic indicators confirm that the manufacturing sector is booming— which means trucking will continue to prosper as well. “There are plenty of reasons to remain bullish on truck freight volumes considering the strength in the manufacturing sector,” Costello said.