If the national trucking industry is the bellwether for the national economy, then Bob Costello’s expectation of “moderate growth” in the trucking sector are welcome words.
The American Trucking Associations’ advance seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 2.7% in November, following a 0.2% contraction in October. The latest gain boosted the index from 103.6 (2000 = 100) in October to 106.4, its highest level in a year, according to the ATA report.
Compared with November 2008, SA tonnage fell 3.5%, which was the best year-over-year showing in 12 months. However, the November 2008 comparisons were also down considerably from 2007 figures.
“Slowly, but surely, truck freight has started the recovery process and November’s solid increase is a very positive sign,” Costello, the senior economist for ATA, noted in the statement. Full Story.....