US truck tonnage rises 1.6% in September
Date:2011-10-28 Author:Eric Source:www.chinatrucks.com
www.chinatrucks.com: US truck tonnage rose 1.6% in September after falling a revised 0.5% in August, according to the most recent figures from the American Trucking Associations. August's decrease was more than the 0.2% drop the ATA previously reported.
Compared with September 2010, seasonally-adjusted tonnage was up a "solid" 5.9% in September and 4.9% year-over-year in August.
"I continue to believe the economy will skirt another recession because truck tonnage isn't showing signs that we are in a recession," said ATA chief economist Bob Costello said. "Tonnage is suggesting that we are in a weak growth period for the economy, but not a recession."
Costello also noted that the third quarter average exhibited signs of small gains for the broader economy, not contraction. "In the third quarter, tonnage was up 0.4% from the second quarter. Prior to the two previous recessions truck tonnage was plummeting, but not this time."
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