Heavy Duty Trucking Logo
MenuMENU
SearchSEARCH

Commentary: What Economic Indicators Tell Us About Shifting Freight Trends

Recent reports on freight movements, shipper spending and even the spot market can be downright confusing if you’re trying to figure what’s happening to the nation’s freight market and overall economic health.

Evan Lockridge
Evan LockridgeFormer Business Contributing Editor
December 21, 2015
Commentary: What Economic Indicators Tell Us About Shifting Freight Trends

 

3 min to read


Taken separately, recent reports on freight movements, shipper spending and even the spot market can be downright confusing if you’re trying to figure what’s happening to the nation’s freight market and overall economic health.

Ad Loading...

For one, total spending on shipments and the number of shipments for North American freight fell in October, according to the Cass Freight Index.

Ad Loading...

The October drop in shipments is much sharper than in recent years and can be directly correlated to falling imports and exports, as well as decreased domestic manufacturing levels. That’s according to Rosalyn Wilson, supply chain expert and senior business analyst with the management services firm Parsons, who provides analysis for the Cass report.

“Burdened by bloated inventories, and under the shadow of a possible interest rate increase by the Federal Reserve, businesses cut back on new orders placed in the last three or four months,” she explains. “This is resulting in lower import volumes, less freight to move and faltering industrial production.”

Then there is the spot market, which saw declines in both rates and freight volume in October, Wilson notes. Figures provided by the freight matching service provider DAT Solutions showed year-over-year volume fell 9.7%, with declines of around 5.5% in the three major truckload freight sectors: vans, flatbeds, and reefers.

But wait a minute: The federal government’s Freight Transportation Services Index,  based on the amount of freight carried by the for-hire transportation industry, rose 0.2% in September. In fact, the level of freight shipments in September measured by the Freight TSI, was just 0.1% below the all-time high level in November 2014. (October TSI numbers had not been released at press time, but the index has shown a slow steady climb over the past 12 months.)

So does this mean someone is reporting bad data? Not at all. Rather, conditions have shifted.

Ad Loading...

As manufacturing levels have declined, along with shipments from this sector of the economy, another area has been increasing — retail spending, a bigger driver of the American economy and truck freight.

According to Wilson, consumer sector goods are, by far, the strongest in the market now.

“In many ways this is the silver lining in the storm clouds, because it means that consumers are still in the game,” she said. “Consumer spending, which accounts for more than two‐thirds of U.S. economic activity, grew 3.2% in the third quarter after expanding at a 3.6% pace in the second quarter.”

As long as consumers stay in the marketplace (and chances are they will, with unemployment at just 5% in October, the lowest since 2008), freight movements and the economy will remain at least stable with 2016 just around the corner.

So what will we see around that corner? One measure of where the economy is heading is the next three to six months, the Leading Economic Index, increased sharply in October from the month before, hitting its highest level in four months, following slight declines the previous two months.

Ad Loading...

And the broadest measure of the economy, the gross domestic product, increased at an upwardly revised 2.1% annual rate in the third quarter. That’s due in part to consumer spending increasing above a 3% pace. In addition, spending on business equipment, a proxy of future business investment, jumped up to a 9.5% growth pace.

Subscribe to Our Newsletter

More Fleet Management

Illustration with ATRI logo and square blocks spelling out "research"
Fleet Managementby Deborah LockridgeApril 20, 2026

'Beyond Compliance,' Regulations, Driver Coaching on ATRI’s 2026 Research List

The American Transportation Research Institute will examine driver coaching, regulatory impacts — including the "Beyond Compliance" concept —and weather disruptions that shape trucking operations.

Read More →
Brian Antonellis, senior vice president, fleet operations, Fleet Advantage.
Fleet Managementby Jack RobertsApril 17, 2026

Fleet Advantage's Brian Antonellis on the Growing Need to Replace Old Trucks

Fleet Advantage's Brian Antonellis says it's time for fleets to get back to the fundamentals of good maintenance practices. And that includes replacing older, inefficient equipment.

Read More →
Illustration of computer and mobile screens with load matching software superimposed over photo of an oversize load
Fleet Managementby News/Media ReleaseApril 17, 2026

Truckstop.com Adding to Open Deck, Heavy Haul Offerings

Load matching for flatbed, lowbed, oversize and overweight loads can't be automated like basic van freight, but Truckstop.com is adding more high-tech tools to help.

Read More →
Ad Loading...
Trucker Path, Truckstop.com partnership expands.
Fleet Managementby News/Media ReleaseApril 14, 2026

Trucker Path, Truckstop.com Expand Load Access Partnership

An expanded Trucker Path and Truckstop.com integration brings more freight opportunities into the TruckLoads app while emphasizing security and network quality.

Read More →
DAT TVI March 2026.
Fleet Managementby News/Media ReleaseApril 14, 2026

Truckload Rates Hit Two-Year Highs as Diesel Costs Surge, DAT Says

Strong March freight demand combined with a spike in fuel costs pushed both spot and contract truckload rates to their highest levels in more than two years.

Read More →
Cloud computing concept background with human and robot hands concept
Fleet ManagementApril 14, 2026

The AI Conversation You Need to Have with Your TMS Provider

Everyone’s talking about AI — but is your transportation management system actually built for it?

Read More →
Ad Loading...
Sharp Transportation tractor-trailer
Fleet Managementby News/Media ReleaseApril 14, 2026

Kriska Buys Fellow Canadian Carrier Sharp Transportation Systems

Being part of KTG will allow Sharp to expand and improve its services.

Read More →
Illustration with stacks of money and a shattered car windshield
Fleet Managementby Deborah LockridgeApril 13, 2026

Bill in House Would Raise Minimum Insurance for Motor Carriers to $5 Million

The Fair Compensation for Truck Crash Victims Act would increase insurance requirements for interstate motor carriers by nearly seven times.

Read More →
FTR market report for February 2026.
Fleet Managementby News/Media ReleaseApril 10, 2026

FTR Trucking Conditions Index Hits Four-Year High in February

Strong freight rates push TCI to 10.2, but FTR expects fuel-price volatility to skew March results.

Read More →
Ad Loading...
C.H. Robinson intermodal.

C.H. Robinson Offers Carriers Relief as Diesel Prices Surge

C.H. Robinson is waiving fees on fuel cards and cash advances for April and May, aiming to help carriers offset rising diesel costs tied to geopolitical instability.

Read More →