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Truckers: July cargo shipments increased

Associated Press file photo

Truckers haul two-thirds of U.S. manufactured and retail goods.

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By TED JACKOVICS

tjackovics@tampatrib.com

Published: August 29, 2009

A key barometer of the U.S. economy, a seasonally adjusted truck tonnage index reported by the American Trucking Associations, improved 2.1 percent in July, showing that a trucking slump may have bottomed out.

Truckers haul two-thirds of U.S. manufactured and retail goods, so the industry's health can provide an indicator of the direction of the overall economy.

The news isn't all good, as truck tonnage fell 10.4 percent in July compared with year-ago figures. However, that was the best performance since February, said chief economist Bob Costello of the 37,000 member trucking group.

"It is not unusual for an economic indicator to become volatile before changing direction," Costello said, noting that truck tonnage has hit bottom after bouncing around a seven-year low for the past few months.

"While I am optimistic that the worst is behind us, I just don't see anything on the economic horizon that suggests freight tonnage is about to rise significantly or consistently," he said.

Reporter Ted Jackovics can be reached at (813) 259-7817

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