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.