Key Currency Exchange Rates for Friday, 11/11/22

American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index fell 5.4% in March after increasing 0.9% in February. In March, the index equaled 111.6 (2015=100) compared with 118 in February. “After increasing a total of 2.6% during the three previous months, March’s sequential decline was the largest monthly drop since April 2020 during the start of the pandemic,” said ATA Chief Economist Bob Costello. “Falling home construction, decreasing factory output and soft retail sales all hurt contract freight tonnage – which dominates ATA’s tonnage index – during the month. Despite the largest year-over-year drop since October 2020, contract freight remains more robust than the spot market, which continues to see prolonged weakness.” Compared with March 2022, the SA index decreased 5%, which was the first year-over-year decrease since August 2021. In February, the index was up 1.9% from a year earlier. During the first quarter, tonnage was 0.6% below the same three month period in 2022.

Trucking on the open road has long been a symbol of freedom, opportunity, and resolve. Now, a new documentary series titled DRIVEN shines a spotlight on the dedicated professionals behind the wheel who keep our nation rolling through good times and bad—and the millions more who work throughout the industry to deliver for America. DRIVEN was produced by the American Trucking Associations—in association with ACT 1 and the Texas Trucking Association Foundation—as part of its Nothing Without Trucking campaign, which educates policymakers and the public about the indispensable role trucking plays in Americans’ lives. Beginning with professional drivers, the series plans to document the vast array of roles throughout trucking that come together to form an unbreakable bond in the U.S. supply chain.