The American Trucking Associations' (ATA) For-Hire Truck Tonnage Index experienced a decline in June, falling 1.6% compared to May. The index equaled 113.5 in June, indicating a decrease in tonnage. However, despite the monthly decline, the second quarter average was 0.2% higher than the first quarter and only 0.2% lower than the second quarter of 2023, suggesting a positive trend in the truck freight market [e3ca8721].
The ATA calculates the tonnage index based on surveys from its membership since the 1970s. The index serves as a key indicator of the health of the trucking industry and the overall US economy. Trucks represent 72.6% of tonnage carried by all modes of domestic freight transportation and hauled 11.46 billion tons of freight in 2022. Motor carriers collected $940.8 billion in revenue, accounting for 80.7% of total revenue earned by all transport modes [e3ca8721] [873c1d45].
The trucking industry in the US has been facing challenges, including low rates, high costs, and excess capacity. The recent decline in the ATA Truck Tonnage Index in June suggests a potential slowdown in the truck freight market. However, it is important to note that the second quarter average was higher than the first quarter, indicating some stability in the industry [e3ca8721].