U.S. truck tonnage index inches up in June after April-May slump

The American Trucking Associations’ For-Hire Truck Tonnage Index rose 0.1% in June to 113.1, regaining some ground after freight volumes contracted 4.1% across April and May. The index fell 0.1% year-over-year in June but remains 1.4% higher for the first half of the year compared with the same period last year, driven by strong first-quarter performance. ATA Chief Economist Bob Costello noted that tighter enforcement of non-domiciled commercial driver’s licenses and English-language proficiency standards has reduced freight capacity, helping to balance the market despite soft freight demand. “While tonnage was little changed during June, there was a definite weakening in volumes during the second quarter,” Costello said. “After five straight year-over-year gains, tonnage has now contracted from year-earlier levels for the last two months.” The Department of Transportation’s stepped-up enforcement has accelerated a decline in capacity, easing pressure on fleets even as overall tonnage growth slows.