Some modestly positive news from an important segment of the transport sector. The ATA reports that truck tonnage climbed by 2.1% in August marking the second month of gains. The ATA reports:
The American Trucking Associations’ advance seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 2.1 percent in August, matching July’s increase of the same magnitude. The latest gain raised the SA index to 104.1 (2000=100), which was the best reading since February 2009. The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 105.8 in August, down 0.5 percent from July.
ATA Chief Economist Bob Costello] noted:
“The gains in tonnage during July and August reflect a growing economy and less of an overhang in inventories,” “While I am optimistic that the worst is behind us, most economic indicators, including industrial output and household spending, suggest freight tonnage will exhibit moderate, and probably inconsistent, growth in the months ahead,”
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.