After the polar vortex that for the last several months brought about winter harsher than the usual, the economy is slowly picking up. With it, the truck-based freight tonnage is also showing signs of revival.
The American Trucking Association (ATA) recently indicated that its for-hire truck tonnage index increased 2.8% in February. In comparison, in January, it plunged an adjusted 4.5% due to the backlog in freight, caused by the number of snow storms that hit most of the country.
If compared to the same period in 2013, the tonnage is up by 2.3%, ATA reported.
Experts also remain highly optimistic about the overall outlook of the economy.
“The U.S. economy has been very consistent for the past three years,” says Bill Witte, the economy expert for research and forecasting firm FTR. He noted that the U.S. economy has experienced both output increases (2.3%) and employment growth (averaging 183,000 per month) indicating a “steady but weak” trend with little quarter over quarter variation.
Category: Freight Broker Bonds