The Truck Tonnage Index tracked by the U.S. Bureau of Transportation Statistics fell for a second consecutive month in May 2026, signaling a pause in the freight rebound that carried through the first quarter. The seasonally adjusted index registered 114.3 in May, down from 116.7 in April and a 2026 high of 117.5 in March, according to data compiled from the American Trucking Associations' monthly tonnage survey.

The index measures the volume of freight actually hauled by for-hire motor carriers relative to a 2015 baseline of 100. It climbed steadily during the first three months of 2026, rising from 113.9 in January to the March peak, before slipping in both April and May. Trucking accounts for the large majority of domestic freight tonnage in the United States, so the index is widely watched as an early signal of manufacturing output, retail restocking and overall freight demand.

The two-month pullback does not erase the broader 2026 gain. May's reading of 114.3 remains above January's starting point, even after giving back roughly two-thirds of the ground gained during the first-quarter run-up. Analysts who track the series note that monthly swings of a point or two are common and that the index is more useful as a multi-month trend than as a single data point.

The next update, covering June 2026 tonnage, is scheduled for release September 1, 2026.

Source: FRED, Federal Reserve Bank of St. Louis (U.S. Bureau of Transportation Statistics) - https://fred.stlouisfed.org/series/TRUCKD11