The American Trucking Association (ATA) reported last week that its advance seasonally adjusted For-Hire Truck Tonnage Index increased during the month of October. The 0.5% increase follows a 1.5% increase in September over the previous month.
The ATA’s Truck Tonnage index is often used as a barometer of the trucking industry’s economic health as a whole, and its continuous growth indicates that the industry is recovering from the economic downturn at a faster rate than the GDP. According to the ATA’s chief economist, Bop Costello: “over the last two months, tonnage is up nearly 2% and is just shy of the recent high in January of this year.”
Not only is this good for the trucking industry, it suggests that the country’s economy as a whole is slowly recovering rather than slipping back into a recession, as a freight tonnage increase results from an increase in the production of goods.
The ATA predicts that growth will slow next year, but that the industrial and trucking industries will continue to recover at a faster rate than the GDP.
To read more, visit:
No comments:
Post a Comment