Truck Tonnage Index climbs in May 2006
Aug 1, 2006 12:00 PM
The American Trucking Associations' advanced seasonally adjusted for-hire Truck Tonnage Index increased 0.3% in May after a 2.0% gain in April.
This latest increase put the seasonally adjusted index at 113.0 (2000 = 100). Compared with May 2005, the index was 1.3% lower. The not-seasonally adjusted index rose 11.2% from April to 119.8.
ATA Chief Economist Bob Costello said May's volumes built upon the improvement in April after a tough February and March. But he noted that the index was still 4.3% lower than January's reading of 118.0, the highest level so far this year. A significant retail inventory correction coupled with softer volumes for high-weight products in the manufacturing sector curbed tonnage volumes in both February and March.
Costello said industry capacity remains relatively tight and would further tighten this fall.
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