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.

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.

Ad Loading...

“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.

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.

Ad Loading...

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.

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

A monitor with a bar graph with a person sitting next to it wearing a headset.
SponsoredSeptember 1, 2026

How Telematics Improves Visibility, Control, and Performance in Refrigerated Fleets

Explore how telematics help refrigerated fleets improve visibility, uptime, efficiency, compliance, and cargo protection across connected cold chain operations.

Read More →
Graphic with U.S. and Canadian flags over background illustration of an ink-stamp that says Tariffs.
Equipmentby Deborah LockridgeAugust 24, 2026

What the U.S.-Canada Trade War Means for Trucking

Escalating U.S.-Canada tariffs could disrupt cross-border freight, reduce truck volumes, raise costs, and create new uncertainty for carriers on both sides of the border.

Read More →
Fleet Managementby News/Media ReleaseAugust 24, 2026

What Are Trucking’s Top Concerns for 2026?

The American Transportation Research Institute wants to know what's worrying trucking fleet managers, drivers, and other stakeholders in its annual Industry Issues survey.

Read More →
Ad Loading...
Four men in suits on the National Mall with giant video screen showing capitol building in the background
Fleet Managementby Deborah LockridgeAugust 24, 2026

American Trucking Associations Looks for a New Leader

ATA President and CEO Chris Spear abruptly left his job at the association on August 21, at a pivotal time for the trucking industry.

Read More →
The Cyber Stop column header with photo of a smiling driver in truck with a laptop and a wi-fi icon
Fleet ManagementAugust 21, 2026

Public Wi-Fi Cybersecurity Risks: How Truck Drivers and Fleets Can Protect Their Data

Public Wi-Fi can expose truck drivers and fleets to credential theft, malware, and other cyber threats. Here’s how to reduce the risk on the road.

Read More →
Woman in white blazer superimposed on background showing a row of Fraley & Schilling truck, plus the HDT Truck Fleet Innovators 2026 logo
Fleet Managementby Deborah LockridgeAugust 19, 2026

For Nicky Cupp, Fleet Innovation Starts With Frustration

HDT Truck Fleet Innovator Nicky Cupp turns everyday pain points at Fraley & Schilling into opportunities for better technology and smarter processes.

Read More →
Ad Loading...
Headshot of Adam Buttgenbach with a Pepsi-branded Tesla Semi in the background
Fleet Managementby Deborah LockridgeAugust 18, 2026

Adam Buttgenbach’s Approach to Electric Trucks: Start With Where They Fit

HDT Truck Fleet Innovator Adam Buttgenbach helped PepsiCo build one of North America’s largest EV fleets by focusing on where electric trucks make operational sense.

Read More →
Deen Albert in collared shirt superimposed on background showing a Grand Island Express blue tractor pulling a trailer, plus the HDT Truck Fleet Innovators 2026 logo
Fleet Managementby Deborah LockridgeAugust 17, 2026

Deen Albert: Let Automation Do the Math, People Make the Decisions

HDT Truck Fleet Innovator Deen Albert makes sure people are still at the heart of operations at Grand Island Express, even while adopting artificial intelligence tools. AI-assisted dispatch helped boost revenue 25% with the same number of trucks.

Read More →
Illustration of computer screen with Trimble Arc Agent screen
Fleet Managementby Deborah LockridgeAugust 14, 2026

Trimble’s New AI Agent Takes Aim at Fleet Back-Office Busywork

Arc Agent works across Trimble TMS products to automate repetitive tasks such as freight orders, maintenance, invoices, fuel costs and more.

Read More →
Ad Loading...
Photos of three men and two women with HDT Truck Fleet Innovators 2026 logo
Fleet ManagementCover Storyby Deborah LockridgeAugust 13, 2026

How HDT’s 2026 Truck Fleet Innovators Are Rethinking Fleet Operations

Meet five trucking leaders who are challenging assumptions, solving operational problems, and putting innovative ideas to work.

Read More →