U.S. for-hire truck tonnage spiked 7.4% in April, and was up 7.7% year-over-year, according to the American Trucking Associations.
โThe surge in truck tonnage in April is obviously good for trucking, but it is important to examine it in the context of the broader economy,โ said ATA chief economist Bob Costello. โFebruary and March were particularly weak months, as evidenced by the 3.5% dip in tonnage due to weather and other factors, so some of the gain was a catch-up effect. In addition, the Easter holiday was later than usual, likely pushing freight that would ordinarily be moved in March into April.
โI do not think the fundamentals underlying truck tonnage are as strong as Aprilโs figure would indicate, but this may signal that any fears of a looming freight recession may have been overblown.โ
April tonnage saw its largest year-over-year gain since July.
