Here’s another solid indicator for the US economy: truck tonnage is surging.
This data, newly added to the FRED database (and tipped off to us by Bloomberg’s Joe Weisenthal), shows the surge in tonnage for truck shipments across the US.
The reason this is a good sign for the economy is it shows us one basic thing: how much stuff is getting hauled around the country.
According to the American Trucking Association, this report captures just under 70% of all tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods.
And you can’t have truck tonnage surging in an economy that is seizing up.