ATA Truck Tonnage Index Contracted 1.1% in December
Measure of Trucking Activity Fell Two Consecutive Months
WASHINGTON, Jan. 21, 2025 /PRNewswire/ -- Trucking activity in the United States contracted in December, according to the American Trucking Associations' advanced seasonally adjusted For-Hire Truck Tonnage Index, the second decrease in as many months.
"For the first time since March and April truck tonnage contracted for two consecutive months," said ATA Chief Economist Bob Costello. "Tonnage fell 1.8% in November, bringing the two-month total decrease to 2.9%, pushing tonnage to its lowest level since January 2024. Sluggishness in factory output continues to weigh on freight volumes, but another drag on the index has been fleet growth at private carriers, which is holding back how much freight is flowing to for-hire carriers."
In December, the ATA advanced seasonally adjusted For-Hire Truck Tonnage Index equaled 111.3 compared with 112.6 in November. The index, which is based on 2015 as 100, was down 3.2% from the same month last year.
The not seasonally adjusted index, which calculates raw changes in tonnage hauled, equaled 108.8 in December, 0.9% below November.
The seasonally adjusted decrease follows a sequential 1.8% drop in November, which was revised up from the December 24 press release.
Trucking serves as a barometer of the U.S. economy, representing 72.7% of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods. Trucks hauled 11.27 billion tons of freight in 20241. Motor carriers collected $906 billion, or 76.9% of total revenue earned by all transport modes.
Both indices are dominated by contract freight, as opposed to traditional spot market freight. The tonnage index is calculated on surveys from its membership and has been doing so since the 1970s. This is a preliminary figure and subject to change in the final report issued around the 5th day of each month. The report includes month-to-month and year-over-year results, relevant economic comparisons, and key financial indicators.
American Trucking Associations is the largest national trade association for the trucking industry. Through a federation of 50 affiliated state trucking associations and industry-related conferences and councils, ATA is the voice of the industry America depends on most to move our nation's freight. Follow ATA on Twitter or Facebook. Nothing Without Trucking.
1 2024 estimates include forecasts.
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SOURCE American Trucking Associations