American Dollar to Canadian Dollar = 0.768926; American Dollar to Chinese Yuan = 0.147307; American Dollar to Euro = 1.039130; American Dollar to Japanese Yen = 0.007753; American Dollar to Mexican Peso = 0.049512.

American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index increased 3.6% in May after decreasing 1% in April. In May, the index equaled 115.9 (2015=100) compared with 111.9 in April. “May was the first month since February 2023 that tonnage increased both sequentially and from a year earlier,” said ATA Chief Economist Bob Costello. “While there was clearly an increase in freight before the Memorial Day holiday, it is still too early to say whether this is the start of a long-awaited recovery in the truck freight market.” April’s decrease was revised up slightly from our May 21 press release. Compared with May 2023, the index rose 1.5%, the first year-over-year gain in fifteen months. In April, the index was down 1.3% from a year earlier.

“Trends is an important record of how the trucking industry is performing,” said ATA Chief Economist Bob Costello. “That’s why it is on the shelves of business leaders and policymakers across North America. “This year’s edition shows that 2023 was a very challenging year, but the industry weathered the storm, moving more than 11 billion tons of freight during the year,” he said. Among the key findings in this year’s report: *Preliminary figures indicate that trucks moved 11.18 billion tons of freight in 2023, down from the 11.46 billion tons hauled the previous year. *Preliminary figures indicate that the industry saw revenues grow to $987 billion, up from $940.8 billion in 2022. *Trucking employed 8.5 million people in industry-related jobs, including 3.55 million professional drivers in 2023. *The industry remains one made up of small businesses, with 95.5% of carriers operating 10 or fewer trucks and 99.6% operating fewer than 100 power units. *Cross-border trade remained a robust source of freight for motor carriers, with trucks moving 66.5% of surface trade between the US and Canada, and 84.5% of goods across the Mexican border in 2023.