U.S. truck tonnage rose +0.4% MoM and +0.5% YoY in January 2026, a modest rebound after prior declines.

• The seasonally adjusted index increased to 113.0 (Dec: 112.5), following a -0.2% MoM drop in December, indicating gradual improvement.

• Volumes remain below the August 2025 peak by -1.3%, showing activity has not fully recovered.

• Recent gains followed declines in September and October, suggesting the rebound is limited relative to earlier contraction.

• The not seasonally adjusted index fell -2.5% MoM to 108.3, pointing to weaker raw month-to-month volumes.

• For full-year 2025, tonnage was flat vs 2024, indicating little overall annual growth.

• The recovery is described as supply-driven due to reduced carrier capacity rather than stronger demand.

• Trucking represents 72.7% of domestic freight tonnage, reinforcing its role as a broad economic activity indicator.

The ATA For-Hire Truck Tonnage Index rose +0.4% MoM and +0.9% YoY in December, showing modest improvement but still low volumes.

• The seasonally adjusted index increased to 112.9 in December (Nov: 112.4), following a +0.2% MoM gain in November, indicating two consecutive monthly increases.

• Freight volumes were still described as low after a combined -2.7% contraction across September and October, suggesting the recent rebound only partially offsets earlier declines.

• YoY tonnage rose +0.9% in December, after two straight months of YoY declines, marking a shift to positive annual growth at year-end.

• For Q4, the index average fell -1.8% QoQ (vs Q3), the largest sequential quarterly decline since Q2 2023, indicating weakening broader momentum despite the late-quarter monthly gains.

• Q4 tonnage was down -0.3% YoY versus the final three months of 2024, pointing to slightly softer activity over the full quarter even with December’s YoY increase.

• For full-year 2025, tonnage rose +0.1% versus the 2024 average, described as the first annual gain since 2022 but still signaling overall flat freight growth.

• The not seasonally adjusted index rose to 111.9 in December, up +4.3% MoM from 107.3 in November, reflecting stronger raw month-to-month improvement than the seasonally adjusted series.

• Soft manufacturing and construction activity were cited as continuing to weigh on freight volumes, reinforcing that the underlying demand backdrop remains a constraint.

The ATA For-Hire Truck Tonnage Index rose +0.2% MoM in November but fell -0.3% YoY, signaling freight volumes remain subdued after prior declines.

• The seasonally adjusted index increased to 112.4 in November (from 112.2 in October), following a -1.9% MoM decline in October and a -0.8% MoM decline in September, indicating only a modest rebound after recent weakness.

• YoY tonnage declined -0.3%, marking the second consecutive annual decrease after a -1.5% YoY drop in October, pointing to ongoing softness compared with last year.

• Year-to-date tonnage was unchanged relative to the same period in 2024, suggesting flat freight volumes overall despite recent volatility.

• ATA noted that November’s small gain followed large declines in prior months, leaving volumes at low levels by historical standards.

• The not seasonally adjusted index fell sharply to 107.3 in November, down -10.2% MoM from 119.5 in October, reflecting a sizable raw pullback consistent with seasonal patterns.

• October’s seasonally adjusted decline was revised slightly higher than initially reported, modestly altering the recent monthly trend but not changing the broader picture of constrained freight activity.

The US ATA For-Hire Truck Tonnage Index fell -2.1% MoM in October, the largest monthly decline in 21 months, bringing the index down to its lowest level since January, while YoY tonnage declined -1.8%, the largest annual drop of 2025 and reflecting continued weakness in freight demand.

• The seasonally adjusted index fell -2.1% MoM to 111.9 (from 114.3 in September), following a revised -0.8% decline the prior month, underscoring a two-month stretch of contracting activity.

• YoY tonnage declined -1.8%, reversing September’s +0.9% YoY gain and representing the steepest annual decrease this year.

• Year-to-date tonnage was unchanged from the same period in 2024, indicating flat freight volumes overall.

• The not seasonally adjusted index rose +3.8% MoM to 119.2, showing a raw increase in tonnage that contrasts with the adjusted decline, consistent with typical seasonal patterns.

• ATA noted that freight conditions remain very difficult, with October producing the largest monthly decline in 21 months and freight levels at their lowest since early 2025.

The ATA For-Hire Truck Tonnage Index fell -0.9% MoM in September 2025 to 114.2, giving back August’s gain and marking the lowest level in three months, while YoY growth edged up to +0.8%.

• The index declined to 114.2 (2015=100) from 115.3 in August, erasing last month’s +0.9% increase and ending a two-month uptrend.

• Year-to-date tonnage was up just +0.2% compared with the same period in 2024, indicating flat freight activity overall.

• Compared with the same month last year, the index rose +0.8% YoY, following +0.4% in August, showing limited annual improvement.

• The not seasonally adjusted index fell -2.6% MoM to 114.7, reflecting a sharper raw decline in tonnage hauled.

• ATA noted that overall tonnage remains +2.1% above its January low but still -3.9% below the peak three years earlier.

• Chief Economist Bob Costello emphasized that the level of freight demand has been “essentially the same” as a year ago, underscoring persistent weakness in the trucking sector.

The ATA For-Hire Truck Tonnage Index rose 0.9% MoM in August 2025 to 115.3, while YoY growth slowed to 0.4%, marking the highest index level since December 2023.

• July’s tonnage growth was revised up to 1.1% MoM, confirming back-to-back monthly gains.

• The not seasonally adjusted index increased 0.3% MoM to 117.7, reflecting raw freight volume growth.

• Year-to-date tonnage was up just 0.1% compared with the same period in 2024, underscoring flat momentum.

• The ATA noted mixed macro drivers: tariffs disrupting seasonal shipping patterns, continued softness in housing, slowing labor markets, and decelerating manufacturing indicator.