Latest ATA Data: Tonnage Index Down 2.1% in October

ATA’s Tonnage Index Falls 2.1% in October

Tonnage Index Sees Its Largest Drop of the Year

The American Trucking Associations reported that its tonnage index fell 2.1% in October. This was the largest monthly drop of the year. It also followed a decline in September, which showed how weak freight demand has been through the fall.
The seasonally adjusted index fell to 111.9, down from 114.3 in September. ATA said the index is now at its lowest point since January. On a year-over-year basis, tonnage was down 1.8% from October of last year.

Tonnage Index Reflects Softer Contract Freight

The index mainly measures contract freight, not spot freight. Because of this, the new data shows that steady, long-term freight has been under pressure.
ATA Chief Economist Bob Costello said the October decline was the sharpest drop of 2025. He noted that contract volumes have struggled due to slow manufacturing activity and lower goods spending. These trends have weighed down freight shipments across many sectors.

Tonnage Index Drop Linked to Lower Freight Demand

Several factors continue to shape the freight market.
Manufacturing output has not fully recovered. Retail inventories remain mixed. Some shippers also moved freight earlier in the year to avoid delays, which left fewer loads in the fourth quarter.
As a result, freight volumes have slipped. This has pushed the tonnage index lower for two straight months.

Impact on Carriers and Drivers

The decline in the tonnage index may signal a tougher period for carriers. Lower volumes can mean fewer contract loads and more competition for steady freight.
Small fleets and owner-operators may feel these shifts more quickly. While some spot rates have held firm, the overall volume drop makes load availability less predictable.

Tonnage Index Trends for 2025

From January through October, total tonnage was almost flat compared to the same period in 2024. This shows how slow the freight recovery has been.
ATA noted that the freight market has not gained enough strength to offset weak months. This pattern has kept the index on a narrow path all year.

What to Watch in the Months Ahead

The next few months will show if freight improves before the year ends. Holiday freight can sometimes give the market a lift, but early data suggest a modest peak season.
January and February will also be important. If the tonnage index stays low during those months, carriers may face more pressure in the first quarter.

Looking Forward

The latest ATA report shows a freight market still searching for stability. The 2.1% decline in October underlines how weak demand remains for contract freight.
The tonnage index continues to be a key sign of these conditions. As the year moves toward its close, carriers and drivers will watch for signs of a rebound or a longer slowdown.