American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 3.7 percent in November after falling 5 percent in October. In November, the index equaled 112.2 (2015=100) compared with 108.3 in October.

“The 2020 seesaw pattern continued in November as typical seasonality is not holding this year,” said ATA Chief Economist Bob Costello. “It was a nice gain, but the rebound was not enough to make up for October’s drop. Robust retail freight, helped by consumer spending, especially e-commerce, and very lean inventories helped truck tonnage last month. Strong single-family housing starts are also aiding freight tonnage, but lackluster restaurant, manufacturing and energy sectors remain a drag. I expect these softer industries to benefit from widespread COVID-19 vaccinations in 2021.”  

October’s decrease was revised up to 5 percent from its Nov. 24 press release.

Compared with November 2019, the SA index contracted 3.8 percent, the eighth straight year-over-year decline. Year-to-date, compared with the same period in 2019, tonnage is down 3.8 percent.

The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 110.5 in November, 4.7 percent below the October level (116). In calculating the index, 100 represents 2015. ATA’s For-Hire Truck Tonnage Index is dominated by contract freight as opposed to spot market freight.

Trucking serves as a barometer of the U.S. economy, representing 72.5 percent of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods. Trucks hauled 11.84 billion tons of freight in 2019. Motor carriers collected $791.7 billion, or 80.4 percent of total revenue earned by all transport modes.

ATA calculates the tonnage index based on surveys from its membership and has been doing so since the 1970s. This is a preliminary figure and subject to change in the final report issued around the 5th day of each month. The report includes month-to-month and year-over-year results, relevant economic comparisons, and key financial indicators.