AAA Daily Fuel Gauge Report for Friday, 6/05/20

American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index decreased 3.5% in January after increasing 1.2% in December. In January, the index equaled 111.0 (2015=100) compared with 115.0 in December. ATA recently revised the seasonally adjusted index back five years as part of its annual revision. “January’s data was a snap back to reality for anyone thinking the freight market was about to turn the corner,” said ATA Chief Economist Bob Costello. “Bad winter weather in January likely hurt volumes, not to mention sharp drops in a number of drivers of tonnage including retail sales, housing starts and manufacturing output.” December’s increase was revised down from our January 23 press release. Compared with January 2023, the SA index fell 4.7%, which was the eleventh straight year-over-year decrease. In December, the index was down 0.8% from a year earlier.

American Dollar to Canadian Dollar = 0.723402; American Dollar to Chinese Yuan = 0.136645; American Dollar to Euro = 1.054077; American Dollar to Japanese Yen = 0.006668; American Dollar to Mexican Peso = 0.055301.

American Trucking Associations’ Technology & Maintenance Council and Decisiv Inc. said that parts and labor expenses rose 1.9% during the third quarter of 2023, according to data released in the latest Decisiv/TMC North American Service Event Benchmark Report. “This return to increasing parts and labor costs highlights the fact that fleets must remain vigilant when it comes to managing their maintenance expense data,” said TMC Executive Director Robert Braswell. “This important parts and labor cost analysis report is an excellent tool to help Council members see how their operations are performing and plan accordingly.”