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Truck Tonnage Rises 3.8% in 2022

By January 25, 2023No Comments

Truck tonnage rose 3.8% in 2022 compared with the prior year, posting the highest year-over-year gain in four years despite closing out with modest December results, American Trucking Associations reported.

The ATA For-Hire Truck Tonnage Index inched up 0.3% to 115.2 compared with December 2021, and was up 0.4% compared with the 114.8 results reported in November, the federation said Jan. 24.

ATA Chief Economist Bob Costello said the annual 3.8% gain was the strongest since 2018, and marked the 16th consecutive year-over-year increase. Still, it was the smallest annual jump over that span and reflected a freight market that slowed as the year drew to a close, he said.

“Despite the small gain in December, for-hire truck tonnage clearly decelerated during the final quarter in 2022,” Costello said. “The index’s yearly gains were primarily driven by strength in the first half of 2022, so despite a marked slowdown as the year ended, for the year as a whole tonnage posted a very solid year overall.”