The American Trucking Associations reported a slight increase of 0.3% in the For-Hire Truck Tonnage Index for July, following a decrease in June, indicating a potential stabilization in the truck freight market. Factors such as strong import activity and modest gains in retail sales and factory output contributed to this uptick. This trend of increasing truck tonnage underscores a growing demand for freight capacity, which can lead to higher transportation costs; PRIMO addresses this challenge through advanced analytics and strategic optimization to ensure efficient load matching and cost-effective freight management.

• Index Increase: The American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index rose by 0.3% in July after a 1.8% decline in June.
• Economic Indicators: The slight gain was attributed to strong import activity, decent retail sales, and slight growth in factory output.
• Yearly Comparison: Compared to July 2023, the index decreased by 0.9%.
• Economic Barometer: Trucking represents 72.6% of tonnage carried by all modes of domestic freight transport in the US, highlighting its importance as an economic indicator.

Reference: www.iru.org