While COVID-19 related demand boosted freight volume and spot freight in the first part of March, the latter part of the month saw a reversal, and April is looking ugly.
The Cass Truckload Linehaul Index for July indicates an increasing rate of acceleration for truckload linehaul pricing, posting the first double digit increase year over year since Cass began tracking it in 2005.
The Cass Truckload Linehaul Index continued the acceleration that began in 2017 by posting a record 8.2% year-over-year increase, with the measure hitting a reading of 134.8.
Newly released figures on the health of the North American freight marketplace as well as on U.S. truckload linehaul and intermodal rates show all are at or near record highs.
It seems just as soon as one report comes out saying there are indications the economy (and trucking) continues to get better, another follows that seems to point the other way, says business contributing editor Evan Lockridge in his July column.
Three measures of freight activity and spending were mixed, according to new figures, but the outlook for their performances has improved, according to Cass Information Systems.
While a measure of total U.S. freight shipments in October broke a string of being in negative territory for 20 months, November fell back while separate reports for the month show an improvement in intermodal rates for the second consecutive month while truckload linehaul rates turned lower.
Two measures of freight shipping posted their first year-over-year improvements in more than 12 months, indicating there has been more than the usual fall surge in shipment volume.
After offering a glimmer of “less bad” hope in August, one measure of freight shipments data in September disappointed.
Freight shipments across all U.S. domestic modes continued improving in August but remain weak, according to the latest Cass Freight Index, while freight spending moved lower again with both resulting in mixed feelings when it comes to their economic impact.