Truck Tonnage Rises in December

Contract freight shipping rose slightly in December, according to one report. 

For-hire transportation increased 2.1 percent month-over-month, according to the American Trucking Association’s (ATA) seasonally adjusted Truck Tonnage Index issued Jan. 23. By comparison, tonnage fell in November by 1.4 percent. 

Year-over-year numbers show a 0.5 percent decrease in December, which is the tenth straight drop in that metric. November’s year-over-year decrease was 1.6 percent. 

“While 2023 ended on a better note, truck tonnage remained in a recession as it continued to fall on a year-over-year basis,” stated ATA Chief Economist Bob Costello. “With that said, for-hire contract freight, which is what comprises our index, in December was 2.6 percent above the trough in April.” 

Costello also noted that total 2023 tonnage levels were down 1.7 percent compared to 2022, making it the “worst annual reading since 2020.” 

The index is based on an ATA survey of its members and focuses more on contract freight than the spot market.