The American Trucking Association Truck Tonnage Index Dipped 0.2 Percent in October following a 0.3 percent contraction in September. In September, the index was down 7.3 percent from a year earlier.
ATA Chief Economist Bob Costello said that the latest reading reflects an economic recovery that is still trying to gain balance, although it is on more solid ground than a year ago. “Repeating what I said last month, the trucking industry should not be alarmed by the small decreases in September and October...So, the ATA pretty much states that all is well, and the industry is just having its ups and downs.. but in any case, trucking serves as a barometer of the U.S. economy, representing nearly 69 percent of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods. There have been many trucking company failures and the freight for those companies are just being picked up by others.
“Since consumer spending and manufacturing are not surging, trucking shouldn’t expect robust growth either. However, both retail sales and manufacturing output are exhibiting mild upward trend lines, which is the path I expect truck freight to take.”
Just thought I'd share... trucking IS an important part of our economy.