US TRUCK volumes increased 3.8 per cent in January from December, according to the monthly tonnage index published by the American Trucking Associations (ATA).

    "Many fleets told us freight was solid in January though operations were a challenge due to the winter storms that hit large parts of the country," said ATA chief economist Bob Costello.

    Volumes were up eight per cent in January year on year, the highest increase since last April, reported American Shipper. The index stands at 117.1, based on a 100-point baseline, its highest level since January 2008. In December, volumes were up 2.5 per cent.

    This good news is clouded by rising oil prices, which could dampen consumer demand, said Mr Costello, who added he was pleased with January's advance especially in light of the winter storms truckers and consumers faced.

    Mr Costello also said the latest tonnage numbers indicate that the economy is growing well in early 2011, and he expects solid first half results.

(Source:http://www.schednet.com)