Truck Tonnage Index,
Definition of Truck Tonnage Index:
A metric introduced by the American Trucking Association that measures the gross monthly weight of shipped goods via over-the-road vehicles.
The index is weighted proportionately to reflect the current composition of the trucking industry. Calculation of the index uses a seasonal adjustment, and there is a one-month lag between the time of data compilation and reporting. A rise in the index is generally seen as a rise in the economy, because it indicates that production is up, as well as of consumption of consumer goods.
The truck tonnage index is an index that measures the gross tonnage of freight which is transported by motor carriers in the United States for a given month. The index serves as an indicator of shipping activity, and consumption of goods in the U.S. Analysts also use the truck tonnage index to determine the state of the U.S. economy as over 70-percent of all freight tonnage is via truck.
Meaning of Truck Tonnage Index & Truck Tonnage Index Definition