NEW YORK, NY--(Marketwire - Sep 12, 2012) - After falling contracting in April and May the American Trucking Associations (ATA) For-Hire Truck Tonnage Index has bounced back. The ATA recently reported that truck tonnage in July saw its largest year-over-year increase since February with a 4.1 percent increase. The Paragon Report examines investing opportunities in the Trucking Industry and provides equity research on YRC Worldwide, Inc. (
Month-to-month the ATA For-Hire Truck Tonnage Index remained flat after gaining 1.1 percent in June. Bob Costello, ATA Chief Economist, forecasts truck tonnage in 2012 to grow by 3 to 3.5 percent. It is estimated that trucks haul nearly 70 percent of all tonnage in the U.S.
"July's reading reflects an economy that has lost some steam, but hasn't stalled," Costello said. "Certainly there has been some better economic news recently, but I continue to believe we will see some deceleration in tonnage during the second half of the year, if for nothing else but very tough comparisons on a robust August through December period in 2011."
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YRC Worldwide Inc. is the holding company for a portfolio of successful brands, including YRC Freight, YRC Reimer, Reddaway, Holland and New Penn, and provides China-based services through its JHJ joint venture. The company recently named Maynard Skarka Chief Operations Officer of YRC Freight. Shares of YRC Worldwide surged nearly 10 percent Monday.
Old Dominion Freight Line, Inc. is a leading, less-than-truckload, union-free motor carrier providing regional, inter-regional and national LTL service and value-added logistics services. The company's Board of Directors has approved a three-for-two stock split, which came into effect September 7, 2012, for shareholders of record as of the close of business on the record date of August 24, 2012.
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