The U.S. freight market experienced a slight dip in May, with trucking activity decreasing by 0.1% after a 0.5% gain in April. This “seesaw freight demand pattern” makes it challenging to identify a clear trend, according to Bob Costello, ATA Chief Economist. He noted that the goods market is inconsistent, with soft construction, fluctuating manufacturing, and cautious consumers, all impacting freight levels.
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The American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index, based on 2015 as 100, registered 113.8 in May, a slight decrease from 113.9 in April. This represents a 1.3% decline from May of last year, marking the first year-over-year decrease in 2025. Despite this, year-to-date tonnage remains up by 0.1% compared to the same period in 2024.
Load-to-Truck Ratio
Flatbed volume remained dropped last week, reporting a 28% decrease in load posts but remaining almost 40% higher year-over-year. Despite a 23% decrease in carrier equipment posts, the flatbed load-to-truck ratio fell by 7% to 23.49.
Spot rates
The national average flatbed spot rate, excluding fuel, saw a $0.02 per mile decline last week, settling just over $2.10/mile. This marks the third consecutive weekly decrease, aligning with typical seasonal patterns. Despite this drop, the current rate is still $0.07 per mile higher than the corresponding week in 2024.
