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Aug 21, 2015

TRUCK FREIGHT DEMAND * USA: Surges at fastest rate since November 2013

* Virginia - ATA: "Economy sent its shipping index to the second-highest level ever recorded"

-- Trucking activity rose to its second-highest level on record in July, as a strengthening economy increased the amount of freight on the road... The amount of cargo hauled by U.S. truckers rose 2.8% in the latest reading of the American Trucking Associations’ monthly index. It was the biggest monthly gain since November 2013, the industry group said. The index is based off of surveys of the group’s members... The ATA pointed to improved retail sales, factory output and housing starts, all of which raised demand for freight transportation. The relatively robust domestic economy has shielded U.S. truckers from headwinds that have rattled other carriers... Carriers have had an up and down year since the ATA’s index hit a record high in January. The U.S. economy has moved in fits and starts, leading to inconsistent demand for hauling freight. In July a key manufacturing reading fell to a three-month low and the Cass Freight Index, which tracks all types of cargo shipments, dipped 1.6% from June... The ATA sounded a note of caution, warning that high levels of inventories could hurt freight volumes in the next few months. The inventory-to-sales ratio for all businesses has reached its highest this year since the 2008-2009 recession, according to U.S. Census Bureau figures... Bob Costello, chief economist at the ATA said: Still, any downturn is likely to be short-lived. Trucking is entering its busy season in the run-up to the start of the school year and the holidays... 
(PHOTO: BLOOMBERG NEWS, by BRIAN BASKIN - The ATA said retail sales, factory output and housing starts have helped generate rising demand for freight transportation) -- Arlington, VA, USA - The WSJ - Aug. 18, 2015

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