American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index decreased 2.5 percent in November after slipping 1.2 percent in October. In November, the index equaled 114.7 versus 117.6 in October.

“For-hire truck tonnage saw the largest single monthly decrease in November since the start of the pandemic and a total drop of 3.7 percent in October and November,” said ATA Chief Economist Bob Costello. “The decreases match anecdotal reports of a soft fall freight season as well as a slowing goods-economy generally. Housing-related freight is particularly weak.”

October’s decline was revised up from its Nov. 22 press release.

Compared with November 2021, the SA index increased 0.8 percent, which was the 15 straight year-over-year gain, but the smallest over that period. In October, the index was up 4 percent from a year earlier. Year-to-date through November, compared with the same period in 2021, tonnage was up 3.7 percent.

The not seasonally adjusted index, which represents the change in tonnage actually hauled by fleets before any seasonal adjustment, equaled 114.6 in November, 4.6 percent below the October level (120.2). 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.