Bob Costello (@ATAEconBob) profile picture

Bob Costello

@ATAEconBob

Bob Costello is the Chief Economist for American Trucking Associations.

 Arlington, Va.
trucking.org
Joined October 2011
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Photo by Bob Costello (@ATAEconBob)Photo by Bob Costello (@ATAEconBob)Photo by Bob Costello (@ATAEconBob)Photo by Bob Costello (@ATAEconBob)Photo by Bob Costello (@ATAEconBob)Photo by Bob Costello (@ATAEconBob)Photo by Bob Costello (@ATAEconBob)Photo by Bob Costello (@ATAEconBob)Photo by Bob Costello (@ATAEconBob)Photo by Bob Costello (@ATAEconBob)
Tune in May 30 at 2 PM EST for ATA’s May 2023 Economic & Trucking Update, sponsored by @PrePass. ATA’s @ATAEconBob will highlight the current economic and trucking trends and explain what it means for your business. Register today. bit.ly/3HCWmrE
Image from American Trucking (@TRUCKINGdotORG)
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Truck #tonnage has increased sequentially over the last three months, totaling 2.9%. February's gain = 1.2%. 🚛 📈 trucking.org/news-insights/a…
ATA Truck Tonnage Index Increased 1.2% in February

ATA Truck Tonnage Index Increased 1.2% in February

Washington — American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index rose 1.2% in February after increasing 0.6% in January.

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“I think that we’re going to have a mild recession early next year,” @ATAEconBob Costello said. By @ConnorInTheNews #ATAmce22 ttnews.com/articles/trucking…
Trucking Positioned to Weather a Recession, Costello Says

Trucking Positioned to Weather a Recession, Costello Says

SAN DIEGO — American Trucking Associations Chief Economist Bob Costello said Oct. 25 the trucking industry should be fairly well insulated from a potential recession in 2023.

ttnews.com
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ATA Truck Tonnage Index Rose 0.5% in September trucking.org/news-insights/a…
ATA Truck Tonnage Index Rose 0.5% in September

ATA Truck Tonnage Index Rose 0.5% in September

trucking.org
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Join us on Tuesday, November 8th at 2PM EST for ATA’s November 2022 Economic & Trucking Webinar, sponsored by @usbank. ATA’s Bob Costello will share an updated look at the economy. This webinar is open to the public. Register here: bit.ly/3ylQYEs
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American Trucking Trends 2022, the singularly important guide to economic trends and other topics in the trucking and transportation industry, has officially been released! Order your edition for just $140 for ATA Members and $275 for Non-Members. Order: bit.ly/3eGuCai
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Another solid seasonally adjusted truck tonnage reading. Sep +0.5% over Aug; +5.5% over Sep '21. ATA's index includes TL and LTL freight and is dominated by contract loads. So another indication that contract is holding up better than spot.
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DOL reported today that for-hire trucking shed 11,400 jobs in Sept. Excluding Apr'2020, that was the largest decrease since Apr'09. It suggests that small fleets are folding and/or fleets are right sizing, but it should ease overcapacity fears, which I don't subscribe to.
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After a down July, for-hire truck tonnage (TL and LTL) snapped back in August, +2.8% from July and +7.4% from Aug '21. Level of tonnage is back to 2019 levels, which is the all-time high.
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How will interest rates, geopolitical tensions, & commodity prices affect the US economy & the #truckingindustry? We'll explore this topic Oct. 25 at #ATAmce22 in our general session, Sponsored by @PilotFlyingJ. Register to join us! mce.trucking.org/
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CPI report for July: While still very high, it surprised to the low side (a good thing). +8.5% y/y vs estimate of +8.7%. In June, +9.1% y/y. Still a LONG way to go, but a step in the right direction.
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ATA’s June 2022 Economic & Trucking Update, sponsored by @PrePass, is June 28 at 2 pm EST. Join ATA’s Bob Costello, Chief Economist & Senior Vice President, for an updated look at the current economic and trucking trends. Open to all ATA members. bit.ly/3xJ0z7j
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ATA Members Only: Join me for my Q2 Economic & Freight Market Update sponsored by @PrePass on June 28th at 2pm. Register here: trucking.org/events/ata-june…
ATA June 2022 Economic & Trucking Update, Sponsored by PrePass

ATA June 2022 Economic & Trucking Update, Sponsored by PrePass

Join ATA’s Bob Costello, Chief Economist & Senior Vice President, for an updated look at the economy and how current economic factors and the pandemic are affecting both the short-term and long-term.

trucking.org
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ATA members: I'll be giving a webinar on the state of the economy and freight market at 2pm ET on 6/28 sponsored by @ACT1trucking. Mark your calendars now and register soon here: trucking.org/events ATA members only. @TRUCKINGdotORG
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For-Hire Truck Tonnage rose 0.5% in May over April and increased 3.7% from a year earlier. The @TRUCKINGdotORG index is dominated by contract freight, not traditional spot. Seems like the transition back to contract from spot is continued last month.
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Again in the first quarter there were some interesting trends at the regional level of @USBankPayments data. Nationally, the data suggests a solid freight market despite some real challenges in the first quarter.
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Strong gain in for-hire truck tonnage during March. This data is dominated by contract freight with minimal amounts of spot tonnage.
American Trucking (@TRUCKINGdotORG) profile pictureAmerican Trucking
@TRUCKINGdotORG19 Apr 2022
Contract freight was solid in March, witnessing the largest sequential gain since May 2020. 🚛📈

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Excuse me? How many jobs were added in January? 467,000? Huge upside surprise. Avg hr earnings jump. Fed clearly behind the curve. For-hire trucking added 8,000 to payrolls, which is a big number. Certainly seasonal adjustment factor impacts, but still a very strong report.
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U.S. Bank  Freight Payment Index: Number of shipments drop, cost to ship climbs usbank.com/content/usbank/ab…
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This is GREAT news! I highly encourage all fleets that are asked to fill out the survey do so. This is very important for the industry and desperately needed after 20 years. @TRUCKINGdotORG @TransportTopics
Bureau of Transportation Statistics (BTS) (@bts_usdot) profile pictureBureau of Transportation Statistics (BTS)
@bts_usdot24 Jan 2022
Launching this February, first VIUS in 20 years! Sponsored by #theoriginalbts, @uscensusbureau, and @USDOTFHWA. What’s a VIUS? Find out at bit.ly/33MHF4r #freight #trucking #vius @OOIDA @TRUCKINGdotORG
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