Truck Transportation Activities Shrink in the U.S. in November

Freight transportation activities in the U.S. contracted in November; this marks the second decline since July. According to the American Trucking Associations' (ATA) seasonally adjusted For-Hire Truck Tonage Index, the index fell from 114.6 in October to 112.5 in November. The index, which is benchmarked to 100 in 2015, is down 1% compared to the same month last year.

ATA Chief Economist Bob Costello stated, "The frustratingly volatile freight environment persisted in November. Since hitting the lowest point in January of this year, tonnage has increased by a total of 1.1%; however, while one month is filled with good gains, the next month sees a decline again. The good news is that the overall trend this year is slowly rising, albeit at a modest rate."

The index, which is based on raw changes in tonnage transported without seasonal adjustments, experienced a 9.6% drop in November compared to October, bringing it down to 109.6. This seasonally adjusted decline followed a 1.2% increase in October.

The Truck Tonage Index is viewed as a barometer of the U.S. economy, representing 72.6% of the tonnage carried by all local freight transport modes, including produced and retail goods.