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US truck tonnage drops again
Truck tonnage in the US dropped 0.9% in September, marking the third consecutive month-to-month drop, according to the most recent American Trucking Associations (ATA) data.
September tonnage was the lowest recorded since October, 2007. Third quarter tonnage was down 1.2% compared to the second quarter, the ATA says. September's tonnage was up 0.8% compared to last September.
ATA chief economist Bob Costello predicted the US will enter a recession during the third quarter that will last through the first quarter of 2009.
'I anticipate truck freight volumes to continue to fall before they improve,' said Costello. 'It is a tough freight market, and there is nothing on the horizon that says this will change anytime soon.'
September tonnage was the lowest recorded since October, 2007. Third quarter tonnage was down 1.2% compared to the second quarter, the ATA says. September's tonnage was up 0.8% compared to last September.
ATA chief economist Bob Costello predicted the US will enter a recession during the third quarter that will last through the first quarter of 2009.
'I anticipate truck freight volumes to continue to fall before they improve,' said Costello. 'It is a tough freight market, and there is nothing on the horizon that says this will change anytime soon.'