American Trucking Associations' advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index rose 2.8 percent in August after decreasing 1.5 percent in July. In August, the index equaled 119 versus 115.8 in July.

"Tonnage snapped back in August after a weaker than expected July," said ATA Chief Economist Bob Costello. "With the economy in transition to slower growth and changing consumer patterns, we may see more volatility in the months ahead. But the good news is that we continue to witness areas of freight growth in consumer spending and manufacturing, which is helping to offset the weakness in new home construction."

July's decrease was revised down from its Aug. 23 press release.

Compared with August 2021, the SA index increased 7.4 percent, which was the 12th straight year-over-year gain and the largest increase since June 2018. In July, the index was up 4.7 percent from a year earlier. Year-to-date through August, compared with the same period in 2021, tonnage was up 3.9 percent.

The not seasonally adjusted index, which represents the change in tonnage actually hauled by fleets before any seasonal adjustment, equaled 124.6 in August, 8.2 percent above the July level (115.1). 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.