News
The American Trucking Association (ATA)’s advanced seasonally adjusted For-Hire Truck Tonnage Index decreased 2% in March, which has marked a year-on-year decline for 13 months in a row. The index went down to 113.4 points, the second lowest in the 13 months, and down 2% from 115.7 points in February.
“Tonnage in March suggests that truck freight volumes remain lackluster, and it is clear the truck freight recession continued through the first quarter,” said ATA Chief Economist Bob Costello. “In the first three months of 2024, ATA’s tonnage index contracted 0.8% from the previous quarter and declined 2.4% from a year earlier, highlighting ongoing challenges the industry is navigating.”
The ATA’s For-Hire Truck Tonnage Index is dominated by contract freight as opposed to spot market freight. In calculating the index, 100 represents 2015. Trucking serves as a barometer of the U.S. economy, representing 72.6% of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods.
