Key Currency Exchange Rates for Friday, 9/13/24

American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index decreased 1.6% in June after increasing 3% in May. In June, the index equaled 113.5 (2015=100) compared with 115.3 in May. “While giving back some of the gain from May, it appears that truck freight tonnage is slowly going in the right direction since hitting a recent low in January,” said ATA Chief Economist Bob Costello. “Despite June’s decline, the second quarter average was 0.2% above the first quarter and only 0.2% below the second quarter in 2023, which are good signs that truck freight might be finally turning the corner.” May’s increase was revised down from our June 18 press release. Compared with June 2023, the index decreased 0.4%. In May, the index was up 1% from a year earlier, which was the first year-over-year gain since February 2023.

American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index decreased 2.1% in September after rising 1.7% in August. In September, the index equaled 113.2 (2015=100) compared with 115.6 in August. “After increasing a total of 2.1% in July and August, tonnage fell by that amount in September,” said ATA Chief Economist Bob Costello. “Freight has been very choppy this year, but despite the latest drop, tonnage is up 1.8% since hitting a low in January. No doubt, the climb up has been slow and difficult as manufacturing activity remains flat, but the trend is up, not down.” August’s increase was revised down slightly from our September 24 press release. Compared with September 2023, the index fell 0.9%, after rising 0.6% in August from a year earlier.

American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index declined 2% in March after increasing 4% in February. In March, the index equaled 113.4 (2015=100) compared with 115.7 in February. “Tonnage in March suggests that truck freight volumes remain lackluster, and it is clear the truck freight recession continued through the first quarter,” said ATA Chief Economist Bob Costello. “In the first three months of 2024, ATA’s tonnage index contracted 0.8% from the previous quarter and declined 2.4% from a year earlier, highlighting ongoing challenges the industry is navigating.” February’s increase was revised down slightly from our March 19 press release.