Econintersect: The American Trucking Associations’ (ATA) trucking index rose 0.1% in June after rising 2.1% in May. Compared with June 2012, seasonally adjusted tonnage was up 5.9%. Truck tonnage year-to-date is up 4.7% over 2012.
It should be noted that trucking jobs declined in June 2013 according to the Bureau of Labor Statistics. From ATA Chief Economist Bob Costello:
“The fact that tonnage didn’t fall back after the 2.1% surge in May is quite remarkable,” ATA Chief Economist Bob Costello said. “While housing starts were down in June, tonnage was buoyed by other areas like auto production which was very strong in June and durable-goods output, which increased 0.5% during the month according to the Federal Reserve.”
“Robust auto sales also helped push retail sales higher, helping tonnage in June. The trend this year is heavy freight, like autos and energy production, is growing faster than lighter freight, which is pushing truck tonnage up.”
In June, the SA index equaled 125.9 (2000=100) versus 125.8 in May. June 2013 is the highest level on record.
/images/z truck.jpg
Econintersect tries to validate data across data sources. It appears this month that jobs growth says the trucking industry declined nearly 0.3% month-over-month (red line) and trucking jobs indexed to Jan 2000 = 100 has declined for two months (blue line). Please note using BLS employment data in real time is risky, as their data is normally backward adjusted significantly. However, long term trends are showing a steady growth.
Please note that the ATA does not release an unadjusted data series where Econintersect can make an independent evaluation. Not all trucking companies are members of the ATA, and therefore it is unknown if this data is a representative sampling of the trucking industry.
source: ATA