ARLINGTON, Va. – U.S. for-hire truck tonnage dropped 3.5% in November, according to the latest data from the American Trucking Associations (ATA).
“It’s tough to sugar-coat November’s reading,” said ATA chief economist Bob Costello. “It was the third decrease in the last four months and the index is down 7.2% since July. Additionally, November was the first month to see a year-over-year drop in the index since April 2017. While disappointing, it fits with the expected soft gross domestic product reading expected in the fourth quarter and reports of a soft fall freight season.”
Compared to November 2018, tonnage was down 2.1%, marking the first year-over-year decline since April 2017, and the largest drop since February of that year. The index is up 3.3% year-to-date over the same period in 2019.