Econintersect: The American Trucking Associations’ (ATA) trucking index improved 1.3% in July 2014 following a 0.8% decrease in June 2014. From ATA Chief Economist Bob Costello:
After a surprising decrease in June, tonnage really snapped back in July. This gain fits more with the anecdotal reports we are hearing from motor carriers that freight volumes are good. Tonnage is up 4.9% since hitting a recent low in January. The solid tonnage number in July fits with the strong factory output reading and a jump in housing starts for the same month,” he said. “I continue to expect moderate, but good, tonnage growth for the rest of the year.
Compared with July 2013, seasonally adjusted tonnage increased 3.6%.
Econintersect tries to validate data across data sources. It appears this month that jobs growth says the trucking industry increased 0.2% month-over-month (red line). Please note using BLS employment data in real time is risky, as their data is normally backward adjusted significantly.
This data series is not transparent and therefore cannot be relied on. Please note that the ATA does not release an unadjusted data series (although they report the unadjusted value each month – but do not report revisions to this data) where Econintersect can make an independent evaluation. The data is apparently subject to significant backward revision. 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.