The trucking industry in the United States recorded a notable 3% increase in truck tonnage this February, marking one of its strongest month-over-month improvements in recent history. According to the American Trucking Associations’ (ATA) advanced seasonally adjusted For-Hire Truck Tonnage Index, this growth followed a modest decline in January, demonstrating a positive shift for the industry.
“After a scant 0.1% decline in January, which wasn’t bad considering the harsh winter weather and California wildfires, truck tonnage had a robust gain in February,” said Bob Costello, Chief Economist at the ATA. “This outcome fits well with our growing optimism for the truck freight market after a two-year recession. Some of the gain in February was due to accelerated imports early in the year as shippers rushed to bring products into the U.S. before tariffs hit. Even accounting for this, the first two months of the year were positive, all things considered, indicating that the freight recovery has indeed begun.”
Tonnage Data Highlights
The advanced seasonally adjusted For-Hire Truck Tonnage Index rose to 115.2 in February, up from the January reading of 111.9. Using 2015 as the base year (set at 100), the index also grew 0.6% compared to February 2024. This marks the second consecutive year-over-year increase, a milestone last achieved in early 2023.
However, the unadjusted index, which measures raw tonnage changes without seasonal adjustments, painted a slightly different picture. February saw a decline to 104.8, reflecting a 4.7% drop from January’s value of 110.0.
Building on these insights, the ATA recently updated its seasonally adjusted index, incorporating revisions spanning the last five years during its annual review process.
The Significance of Trucking in the Economy
The trucking industry remains a vital component of the U.S. economy and a reliable indicator of its overall health. Trucks are responsible for moving 72.7% of all domestic freight tonnage, carrying a wide range of goods, from retail products to manufactured materials.
Last year, the industry transported 11.27 billion tons of freight, generating $906 billion in revenue. This impressive figure accounts for 76.9% of earnings across all modes of transport.
The ATA’s tonnage index focuses on contract freight data, rather than the spot market, and is based on surveys conducted among its membership. These figures are preliminary and often revised in subsequent monthly reports, which include detailed analyses of trends and comparisons.
Source: Women in Trucking
Image Source: ATA, Women In Trucking
