February truck tonnage increased 4.2% from a year ago but slipped from January, American Trucking Associations said Tuesday.
The year-over-year increase followed a revised 7.6% gain in January that was below the 8% originally reported, ATA said in its monthly seasonally adjusted for-hire truck tonnage report.
The index is now at a reading of 113.3, with the year 2000 as a baseline reading of 100. Januaryâ€™s truck tonnage reading was the highest in three years.
Februaryâ€™s index slipped 2.9% from January, and tonnage is up 5.9% for the first two months of the year from a year earlier, ATA said.
ATA Chief Economist Bob Costello said winter storms likely played a role in the latest reduction and that he was not concerned about the decline from January.
â€œTonnage is not going to increase every month and in general Iâ€™m very pleased with freight volumes early this year,â€� he said in a statement.
Costello also said motor carriersâ€™ anecdotal reports were encouraging, adding that he was â€œhearing a significant amount of positive news from fleets and that the largest concern continues to be the price of diesel fuel, not freight levels.â€�
ATA calculates the tonnage each month based on reports by its member trucking companies.
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