The ATA Truck Tonnage Index fell -1.5% MoM in March, partially reversing February’s 2.8% gain.

• The index rose 0.2% YoY, marking the third straight annual increase.
• The not seasonally adjusted index rose 9.5% MoM to 114.6.
• Q1 2025 saw marginal quarterly tonnage gains both QoQ and YoY for the first time in two years.
• Strong March manufacturing, especially in autos, helped limit further declines.
• ATA: “Overall in the first quarter, tonnage increased marginally from both the fourth and first quarters of 2024. While the gains were not strong at half a percent and less, it was the first time that the quarterly average increased both sequentially and from a year earlier in two years. That tells me that the freight market did in fact turn around in the first three months of the year despite an uncertain outlook.”