American Trucking Associations’ highly developed seasonally adjusted (SA) For-Hire Truck Tonnage Index rise again in November, adding up 2.3% in addition to the 3.9% jump during October. In November, the index equaled 151.8 (2000=100), starting from 148.4 in October.
Comparing the report with November 2016, the SA index increased 7.6%, which was down from October’s 10.5% year-over-year increase, but yet, extremely strong. In September, the index improved 6.3% on a year-over-year basis. Year-to-date, in comparison with the equivalent eleven months in 2016, the index is up 3.5%.
The report tries to authenticate ATA truck records across the data sources. It shows this month that jobs expansion says the trucking industry employment stage were slightly altered month-over-month. The American Trucking Associations (ATA) forecast September would see slower development as the hurricane season flow lessened, but according to the report, trucking is enduring to rush ahead, with strong data points signifying a complete resurgence from the industry recession that began in 2015. That merge with innovating from the hurricane damage encouraged ATA Chief Economist Bob Costello to say, “Going forward, upgrading from those hurricanes and other natural disasters like the wildfires will add to freight order.
Shipment did increase but compared to Augusts’ 4.7% rise, that’s barely a distress for the trucking industry. In actual fact, the Cass Index distinguished in their latest report that they are paying more attention on the number of loads moved by truck and less attention on the number of tons moved by truck because of the increase in e-commerce and the move away from brick-and-mortar retail.
The Cass Freight Shipment Index fall 1.2% in succession but increase 3.5% on a year-over-year basis. The index fell 1.1% successively and was down 3.0% year-over-year. The index, which uses information from bill payments through a bank is mainly supported on trucking which includes rail, air and barge freight.
The Cass Truckload Index, which tracks monthly changes in line haul rates, beg off 0.9% in December in opposition to the same period in 2015, the tenth successive month of such turn down. However, the present strong point being reported in mark rates is leading them to consider that the current -3% to 1% truckload pricing prediction may need to be improved and moved to a slightly more positive position if the force in spot rates continues long enough to move deal rates back into affirmative terrain.
Not just did the Shipments Indexes expand their run of positive year-to-year contrast, but those evaluations have turn out to be gradually more positive. Shipments initial turned positive fourteen months ago. The 14.3% YoY increase in the November Cass Shipments Index is so far an additional data point which verifies that the first positive hint last October was a alteration in trend.