IRU member the American Trucking Associations (ATA) has been calculating the tonnage index based on surveys from its membership since the 1970s. Here are the results for December 2024.
Trucking activity in the US contracted in December 2024, according to ATA’s advanced seasonally adjusted for-hire truck tonnage index, the second decrease in as many months.
ATA Chief Economist and IRU Goods Transport Council Vice President Bob Costello said, “For the first time since March and April, truck tonnage contracted for two consecutive months.
“Tonnage fell 1.8% in November, bringing the two-month total decrease to 2.9%, pushing tonnage to its lowest level since January 2024.
“Sluggishness in factory output continues to weigh on freight volumes, but another drag on the index has been the fleet growth of private carriers, which is holding back how much freight is flowing to for-hire carriers.”
In December, ATA’s advanced seasonally adjusted for-hire truck tonnage index equalled 111.3, compared with 112.6 in November. The index, which is based on 2015 as 100, was down 3.2% from the same month last year.
The not seasonally adjusted index, which calculates raw changes in tonnage hauled, equalled 108.8 in December, 0.9% below November.
Both indices are dominated by contract freight, as opposed to traditional spot market freight.
Trucking serves as a barometer for the US economy, representing 72.6% of tonnage carried by all modes of domestic freight transport, including manufactured and retail goods. Trucks hauled 11.46 billion tons of freight in 2022. Motor carriers collected USD 940.8 billion, or 80.7% of total revenue earned by all transport modes.
This story was originally published by ATA.