Heavy Duty Trucking Logo
MenuMENU
SearchSEARCH

Freight Shipments, Spending Levels Post Double-Digit Gains

A measure of quarterly freight shipment and spending activity showed big gains in the first quarter of 2018 compared to the same time a year ago, reflecting a stronger economy.

Evan Lockridge
Evan LockridgeFormer Business Contributing Editor
April 26, 2018
2 min to read


The U.S. Bank National Spend Index grew again during the first quarter of 2018 both sequentially and year-over-year, highlighting continued tightness in the truck market.

A measure of quarterly freight shipment and spending activity showed big gains in the first quarter of 2018 compared to the same time a year ago, reflecting a stronger economy.

The U.S. Bank Freight Payment Index showed while the level of freight shipments moved 12.6% higher in the first three months of the year, the amount of freight spending was nearly double. The 24.5% increase indicates that driver shortages have become more acute, putting upward pressure on rates as demand grows.

Ad Loading...

The gauge also recorded 1.4% gains in both shipments and spending for the first quarter of 2018 compared with the final quarter of 2017.

For the index, whose data stretches back to 2010, the 1.4% increase in shipments marked its fifth straight quarterly rise, while the 1.4% upturn in freight spend resulted in its highest-ever first quarter reading.

“Motor carriers of all types are having extreme difficulty finding qualified drivers, which is constraining capacity and pushing driver pay higher,” said American Trucking Associations Chief Economist Bob Costello, who provides expert analysis on the index results. “The capacity situation will likely get even tighter throughout the year as economic growth accelerates and fleets have a difficult time adding trucks to meet that added demand.”

Ad Loading...

The Midwest was the strongest shipping region in the first quarter, jumping 3% from fourth quarter 2017 due to continued strength in the factory sector. There was a 1.6% rise in shipments in the Southwest. The Southeast and West also saw gains in shipments, but by less than 1% each.

The Northeast has seen the weakest growth numbers in shipments for two quarters running. After no gain in the final quarter of 2017, shipments slumped 0.3% in the first quarter of 2018. One of the factors likely hurting volumes was adverse winter weather, especially late in the first quarter, according to the report. Bad winter storms impacted construction activity and general freight movements for all products.

Spending was mixed across the regions during the first quarter, with the Southeast and Northeast registering declines, while the other regions saw gains. The largest increase was the Midwest at 5.2%.

Overall freight spending has now increased sequentially for seven straight quarters, totaling 31.4%.

The quarterly U.S. Bank Freight Payment Index measures changes in shipment and spend activity based on data from transactions processed through the U.S. Bank Freight Payment system. These transactions are made on behalf of clients across a range of industries, including automotive, manufacturing, food and retail, according to U.S. Bank.

Related: Freight Payment Index Offers Helpful Regional Benchmark

More Fleet Management

Panel discussion
Fleet Managementby Deborah LockridgeJune 12, 2026

Time is Running Out to Apply for Exclusive HDT Event

Heavy Duty Trucking Exchange connects heavy-duty trucking fleet managers with industry suppliers through one-on-one meetings, small-group discussions, educational sessions, and networking opportunities with both suppliers and other fleet managers.

Read More →
Empty trailer with worker loading a pallet of cargo
Fleet ManagementJune 10, 2026

Amazon Launches Less-Than-Truckload Freight Offering for All Businesses   

This launch is the latest addition to Amazon Supply Chain Services, a portfolio of supply chain capabilities from Amazon, including freight, distribution, fulfillment, and parcel shipping.

Read More →
Stacks of intermodal containers at port with truck driving between them

Import Cargo Volume to See Year-Over-Year Gain Again in June, Then Remain Below 2025 Levels Into Fall

After July, the report predicts a weakening in import volume as consumer uncertainty remains high and the impact of increasing inflation takes its toll.

Read More →
Ad Loading...
Equity Interest Auction
SponsoredJune 8, 2026

AUCTION OF EQUITY INTEREST IN HEAVY HAUL TRUCKING COMPANY!!

Mark your calendar: June 30, 2026 (10:00 a.m. PDT). A 37.5% ownership interest in MagnaTrans, LLC, a California limited liability company doing business as Magna Transportation Group, will be sold in an in-person and online auction to the highest bidder or bidders under Article 9 of the Uniform Commercial Code. The Rancho Cucamonga-based heavy haul and over-dimensional trucking company operates across California, Oregon, and Arizona.

Read More →
Volvo OTA updates.

Volvo Trucks Adds Unattended Over-the-Air Software Update Capabilities

The latest evolution of Volvo’s over-the-air update technology allows software updates to run while trucks are parked, helping fleets keep vehicles current without disrupting operations.

Read More →
Podcast thumbnail illustration
Fleet ManagementJune 4, 2026

How Waste Connections is Using Data, Telematics, and AI

How do you manage and maintain more than 18,000 connected trucks? Data. Lots of it.

Read More →
Ad Loading...
YouTube thumbnail showing Chuck Palmer illustration with refuse truck in background

Why Fleet Data Matters More Than Ever at Waste Connections [Watch]

Waste Connections' Chuck Palmer explains how telematics, predictive maintenance, safety analytics, and AI help keep vehicles on the road and drivers safe in this episode of HDT Talks Trucking.

Read More →
Illustration of tractor-trailer and cybersecurity
Fleet ManagementJune 3, 2026

NMFTA Launches Free, Anonymous Cybersecurity Threat Report Portal

Organizations are encouraged to anonymously report freight fraud, cargo crime, and cyber threats while gaining visibility into incidents reported across the transportation sector.

Read More →
Cover feature graphic showing AI background

AI Can Optimize a Fleet. Can It Replace Human Judgment?

Fleets fear falling behind if they don’t adopt AI quickly enough. They also fear what happens if the technology makes the wrong decision.

Read More →
Ad Loading...
Jamie Hagen owner, Hell Bent Xpress.
Fleet Managementby Jack RobertsMay 29, 2026

Jamie Hagen Gets Real About Running a Small Fleet in an Uncertain Economy

Small fleet owner Jamie Hagen says new legal risks, volatile fuel prices, and a changing freight market are forcing small carriers to rethink how they operate — and what they can afford.

Read More →