ATA Truck Tonnage Index Posts Largest Annual Gain in 13 Years
According to Chief Economist Bob Costello, American Trucking Associations’' seasonally adjusted Truck Tonnage Index rose 6.8% in December from the previous month. The increase was the largest since 2005.
December's tonnage figure is 10.5% higher than the same month in 2010, the largest yearly increase since July 1998 and sets the gain for all of 2011 at 5.9%, the best year for the index since 1998.
“Not only did truck tonnage increase due to solid manufacturing output in December, but also from some likely inventory restocking. Inventories, especially at the retail level, are exceedingly lean, and I suspect that tonnage was higher than expected as the supply chain did some restocking during the month.” Costello said. For more, click here.