Even in the midst of a government possibly shutting down, the trucking outlook in 2013 continues to improve according to new numbers from the American Trucking Association. The tonnage index reached a new record level in August of 126.9 – a 6.9% increase from a year ago. According to Transport Topics the year-over-year gain, the largest monthly rise since December 2011, pushed tonnage up 5% for the first eight months of the year.
These numbers are supported by more data coming out of the Federal Reserve. According to their monthly tonnage report, there was a 0.7% sequential increase from last month and a 2.8% year-over-year improvement – with both numbers being the greatest improvements recorded so far this year.
How can we explain these numbers? Well, not only is August a great time in general for the trucking industry but many fleets have been getting more work due to improvement in major sectors around the country, including automobiles, energy production and housing.
Not surprisingly, the Department of Labor also reported that the unemployment rate dipped 0.1% in August to 7.3% from a month ago.
Although people should be cautionary – as tonnage is rising faster than overall freight volumes – these numbers suggest that 2013 is going to be a big bounce back year for the industry as a whole. We’ll keep you updated on the latest numbers on this blog, as well as on our Facebook page. For more information about to insure your fleet, visit our website.