Heavy Duty Trucking Logo
MenuMENU
SearchSEARCH

New Gauge of Freight Shipping and Economy Debuts at ATA

ORLANDO - U.S. Bank announced the launch of a new barometer for assessing the nation’s shipping industry on Sunday during the American Trucking Associations’ Management Conference and Exhibition in Florida.

Evan Lockridge
Evan LockridgeFormer Business Contributing Editor
October 22, 2017
New Gauge of Freight Shipping and Economy Debuts at ATA

Bob Costello, chief economist for the American Trucking Associations, explains about the new U.S. Bank Freight Payment Index. Photo: Evan Lockridge

3 min to read


ORLANDO - U.S. Bank announced the launch of a new barometer for assessing the nation’s shipping industry on Sunday during the American Trucking Associations’ Management Conference and Exhibition in Florida.

The U.S. Bank Freight Payment Index measures quantitative changes in shipment and spend activity, based on data from transactions processed through U.S. Bank Freight Payment.

Ad Loading...

These transactions are made on behalf of clients across a range of industries, including automotive, manufacturing, food and retail.

U.S. Bank Freight Payment has been providing automated freight audit and payment services for 20 years and processes around $23 billion in global freight payments, according to the company.

Bob Costello, chief economist for the American Trucking Associations, explains about the new U.S. Bank Freight Payment Index. Photo: Evan Lockridge

Published quarterly, the U.S. Bank Freight Payment Index includes regional and national breakdowns along with expert commentary from Bob Costello, chief economist for the American Trucking Associations.

Ad Loading...

Highlights and analysis of the U.S. Bank Freight Payment Index for the third quarter include:

  • An 8.3% jump in the U.S. Bank National Spend Index, the largest quarterly gain since the final quarter in 2014, reflects a tighter truck market, in part from increased vehicle demand in the aftermath of Hurricanes Harvey and Irma.

  • The U.S. Bank National Shipment Index increased 3.3%, which was slower than the 5.8% surge in the second quarter, but still solid, considering the impacts from the hurricanes.

  • One of the most important developments for the transportation sector has been the acceleration in factory output as the U.S. dollar retreated from high levels and businesses began reinvesting in capital equipment.

A unique feature of the index is that it breaks the data down into five U.S. regions; West, Southwest, Midwest, Southeast and Northeast; based on the state of origin for a shipment.

“Freight shipments are generally not uniform across the country,” said Costello. “That’s what makes the U.S. Bank Freight Payment Index so useful. It is regional and gives a good snapshot into the differences in economic climate from one end of the country to the other.”

Regional highlights and analysis for the third quarter include:

Ad Loading...
  • The Northeast region saw the biggest shipment index gain, at 10%. The gain was helped along by better manufacturing activity and slightly higher housing starts compared to the second quarter.

  • Shipments in the Southeast inched up a mere 0.1%, as Hurricane Irma disrupted the supply chain. At the same time, spend volume jumped nearly 5% as truck capacity undoubtedly tightened.

  • The Midwest led the pack in overall spend, jumping 13.3% to a record high. The region was assisted by a rebound in general manufacturing activity.

Though the U.S. Bank Freight Payment Index is new, its aggregated data goes back to 2010, allowing readers a sense of trend lines over time.

When asked during the press conference why this historical data did not go further back than 2010, to during the Great Recession, for example, Bobby Holland, director of freight data solutions for U.S. Bank Freight Payment said because that is when the company started to take on so-called “big data,” so it could statistically validate that its results were accurate.

Costello also responded by saying 2010 is a good place to start because it’s the beginning of the current upward cycle in trucking.

“We are really starting at where the most current cycle really began,” he said. “I think it’s a good starting point. This shows what we have done and where we have gone since the great recession.”

More Fleet Management

Illustration of U.S. Supreme Court building and a truck crash

Supreme Court Ruling Puts Freight Broker Vetting Practices in Spotlight

The unanimous SCOTUS ruling in the closely watched Montgomery v. Caribe case allows state negligence claims against freight brokers that hire unsafe motor carriers, raising new liability and vetting concerns among brokers.

Read More →
Mobile tablet showing Motus screen against highway background with Motus logo

FMCSA’s Motus System Is Coming. What Fleets Need to Know Now

FMCSA's long-awaited registration system promises a single portal — and tighter fraud controls. And there are steps you need to take by May 14.

Read More →
Fleet Advantage Generative AI study.

Fleet Advantage: Fleets Embrace Generative AI, but Data Problems Limit Operational Gains

New Fleet Advantage research shows generative AI adoption has exploded among private fleets. But poor data integration and weak ROI tracking are preventing fleets from unlocking AI’s full operational and financial value.

Read More →
Ad Loading...
Phillips Connect extends Nussbaum trailer life.

How Phillips Connect Helped Nussbaum Transportation Double its Trailer Life

Seven years into deploying Phillips Connect’s smart trailer platform, Nussbaum Transportation has extended trailer life from 10 to 15 years.

Read More →
Lance Evans, Director of Safety at K&B Transportation.

Inside Modern Fleet Safety: AI, Cameras & Speed Control at K&B Transportation

How a former commercial vehicle enforcement officer turned director of safety at K&B Transportation is embracing real-world safety technology.

Read More →
TEN disaster prep.
Fleet ManagementMay 1, 2026

How Fleets Can Avoid Equipment Blind Spots in Disaster Response

When the unexpected happens, how you react to, and deal with operational blind spots is critical. Here’s how to keep you recovery on track, when nothing is normal.

Read More →
Ad Loading...
Illustration of cybersecurity images with "The Cyber Stop" text
Fleet Managementby Ben WilkensApril 30, 2026

AI Security Risks for Trucking Fleets: What to Know About Deepfakes and Agentic AI

As fleets adopt artificial intelligence for routing, maintenance, and load matching, new security risks are emerging. Learn where the vulnerabilities are and how to put the right controls in place.

Read More →
CargoNet 2026 Qi report.
Fleet Managementby News/Media ReleaseApril 24, 2026

Cargo Theft Incidents Fall in Q1, but Organized Crime and Impersonation Drive New Risks

CargoNet reports fewer supply chain crime events to start 2026. But losses hold steady as organized crime shifts tactics toward impersonation schemes and high-value goods.

Read More →
Graphic with light bulbs, HDT Truck Fleet Innovators logo, and the word Nominations
Fleet ManagementApril 24, 2026

Nominations Open for HDT Truck Fleet Innovators 2026

Heavy Duty Trucking is searching for forward-looking leaders at trucking fleets as nominations for HDT’s Truck Fleet Innovators 2026. Deadline is May 15.

Read More →
Ad Loading...
Illustration with trojan horse and lock with inside of cargo container in background
Fleet Managementby News/Media ReleaseApril 23, 2026

New Trojan Driver Cargo Theft Scam Bypasses Carrier Vetting Systems

Cargo theft rings plant operatives as drivers inside legitimate, fully vetted carriers, then execute coordinated thefts that look like a traditional straight theft from the outside.

Read More →