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.