American Trucking Associations' advanced seasonally adjusted For-Hire Truck Tonnage Index declined 1.2 percent in April after decreasing 2.2 percent in March. In April, the index equaled 111.7 (2015=100) compared with 113.1 in March.

"The truck freight market remained soft in April as seasonally adjusted volumes fell for the second straight month," said ATA Chief Economist Bob Costello. "With a rebound in freight remaining elusive, it is likely that additional capacity will leave the industry in the face of continued softness in the market."

March's decrease was revised down slightly from the April 23 press release.

Compared with April 2023, the index fell 1.5 percent, which was the 14th straight year-over-year decline. In March, the index was down 1.3 percent from a year earlier.

The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 112.2 in April, 1.7 percent below March. 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 72.6 percent of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods. Trucks hauled 11.46 billion tons of freight in 2022. Motor carriers collected $940.8 billion, or 80.7 percent of total revenue earned by all transport modes.