Truck shipments, measured by the Truck Tonnage Index, reflect the total output of freight by the trucking industry, standardised to an index with 2015 as the base year.

This measure is vital because trucking moves a substantial portion of all freight in the United States, making it a critical indicator of economic activity.

The volume of goods shipped by trucks is closely tied to consumer demand, manufacturing output, and overall economic health.

As businesses and consumers buy and sell more goods, truck shipments typically increase, suggesting economic expansion.

A decrease may indicate a slowdown in commerce and a potential economic downturn.

Recession Signal

A consistent decline in the Truck Tonnage Index can be a harbinger of economic contraction.

Since the trucking industry is sensitive to changes in demand, it often provides signalling for a cooling economy, potentially ahead of official recession declarations.

Track this yourself

You can easily track truck Shipments here: https://www.tradingview.com/chart/v7ZG3yMA/?symbol=FRED%3ATRUCKD11