Truck Tonnage Index decreases in October
Dec 1, 2008 12:00 PM
The American Trucking Associations' advanced seasonally adjusted For-Hire Truck Tonnage Index fell 3.0 percent in October 2008, marking the fourth consecutive month-to-month drop.
This index dropped 0.8 percent in September and 1.9 percent in August. In October, the seasonally adjusted tonnage index equaled 108.9 (2000 = 100), its lowest level since October 2003. The not seasonally adjusted index increased 3.4 percent to 119.9 in October. The seasonally adjusted index declined 1.8 percent compared with October 2007.
ATA Chief Economist Bob Costello said truck tonnage is down a total of 6.3 percent in the past four months, highlighting how bad the U.S. economy is currently. “October should be the busiest month of the year, but instead this October was a fizzle,” he said.
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