ATA's February Truck Tonnage Index falls slightly

The American Trucking Associations' seasonally adjusted For-Hire Truck Tonnage Index fell slightly in February following a 2.5 percent increase in January, the trade association said this week.

At 117.4, the February Index fell 0.2 percent from January to February, but rose 5.4 percent compared to February 2018 levels. January's reading was revised up slightly since its release last month, according to ATA.

ATA's Chief Economist Bob Costello said he expects tonnage to continue to moderate following a strong performance in 2018. ATA's index saw its largest gain in 20 years last year, as the index increased 6.7 percent overall.

Trucking serves as a barometer of the U.S. economy, representing more than 70 percent of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods, according to ATA. The association calculates the tonnage index based on ATA member surveys.