ATA reported that its seasonally adjusted truck tonnage index increased 0.4% in December, following a 0.2% gain in November.
Chart: American Trucking Associations.
U.S. truck freight volumes edged higher in December, but overall tonnage remained subdued as the industry closed out another challenging year.
In fact, the American Trucking Associations’ For-Hire Truck Tonnage Index grew only 0.1% in 2025.
Historically Soft Freight Levels Linger
ATA reported that its seasonally adjusted truck tonnage index increased 0.4% in December, following a 0.2% gain in November.
Despite the back-to-back increases, the modest improvement did little to offset sharp declines in the fall, leaving freight volumes at historically low levels.
“Despite two consecutive gains, tonnage remains at low levels as the freight metric contracted a total of 2.7% in September and October,” said ATA Chief Economist Bob Costello in a news release.
“Soft manufacturing and construction activity are continuing to suppress freight levels, as they did for much of last year.”
For all of 2025, truck tonnage rose just 0.1% compared with the 2024 average. While that marks the first annual increase since 2022, the gain underscores how difficult freight conditions remained throughout much of the year.
December’s seasonally adjusted index registered 112.9, up from 112.4 in November, using 2015 as the baseline year. On a year-over-year basis, tonnage increased 0.9% compared with December 2024, snapping two months of year-over-year declines.
An Overall Weak Fourth Quarter
Still, the fourth quarter told a weaker story. The index average for the final three months of the year fell 1.8% compared with the third quarter, marking the largest sequential quarterly decline since the second quarter of 2023. Compared with the fourth quarter of 2024, tonnage was down 0.3%.
ATA pointed to ongoing weakness in manufacturing and construction as key drags on freight demand. Both sectors have struggled to regain momentum, limiting freight opportunities even as capacity continues to slowly exit the market.
The muted growth reinforces what many carriers have been experiencing on the ground: a market that has stabilized somewhat from its lows but has yet to generate a meaningful rebound in volumes or pricing power.
The tonnage index is heavily weighted toward contract freight rather than spot market activity, making it a useful indicator of core, longer-term freight demand rather than short-term volatility.
Raw Tonnage Shows Seasonal Lift
On a not seasonally adjusted basis, which reflects raw changes in freight volumes, December tonnage totaled 111.9—up 4.3% from November’s reading of 107.3.
That increase reflects typical seasonal patterns, including year-end shipping activity, rather than a fundamental shift in freight demand.
ATA noted that November’s seasonally adjusted gain was unchanged from what it first reported in late December.
Despite the prolonged freight downturn, trucking continues to serve as a key barometer of the U.S. economy. Trucks account for 72.7% of all domestic freight tonnage, moving manufactured goods, retail products, and industrial materials across the country.
In 2024, trucks hauled an estimated 11.27 billion tons of freight. Motor carriers generated $906 billion in revenue, accounting for nearly 77% of total revenue across all freight transportation modes.
Cautious Outlook Heading into 2026
While December’s increase offers a small positive signal, the data suggest the industry is entering 2026 still searching for a sustained freight recovery.
With manufacturing and construction activity remaining soft, carriers are likely to continue operating in a cautious environment where efficiency, cost control, and disciplined capacity management remain critical.
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