For the third consecutive month, truck tonnage posted gains in April, increasing 1.5% over the previous month, according to a report issued May 20 by the American Trucking Association.
That follows a 0.6% gain in March. The ATA’s seasonally-adjusted index (SA) of truck tonnage rose to 129.1, which is just 1.9% below the all-time high of 131.0 set in November 2013.
On an annual basis, the April SA was up 4.8 percent, making its largest monthly gain in 2014. Year-to-date, SA tonnage was up 2.9% through April.
The SA index is calculated by adding up all the monthly tonnage data reported by respondents to a survey of ATA members for the past two months. Then a monthly percent change is calculated and applied to the index number for the first month.
The ATA’s non-seasonally adjusted index (NSA) was 131.5 in April, up 1.6% from March. Year-to-date, NSA is up 4.3%. The NSA represents change in tonnage actually hauled by fleets before any seasonal adjustment.
Todd Fowler, a capital markets analyst for KeyBanc, told Logistics Management that he expects truck tonnage to continue to climb.
“Based on our due diligence, we anticipate further sequential strengthening in coming months as produce and beverage shipment activity accelerates, along with spring and summer merchandise, though more difficult comparisons could impact year-over-year trends,” Fowler wrote in a research note.
The increased truck tonnages is yet another indication that the impact of this past severe winter weather is fading into the past. Yet over the road capacity remains tight and finding customers is still more difficult for some carriers due to a sluggish economic recovery, regulatory drag, and an ongoing shortage of qualified drivers, according to the ATA.