Freight Index Hits 15 Year High
Freight expenditures moved up again in April, with expenditures index hitting its highest point in fifteen years, according to the Cass Freight Index Report.
At the same time, North American shipment volumes rose to their highest level since June 2011. Freight has continued to gain momentum, indicating that the second quarter should be stronger. Shipment volumes inched up 1.5 percent from March, a growth rate much slower than the previous two months.
That said, however, April freight shipments were 5.5 percent higher than a year ago, when volumes were moving in a downward direction. The trucking industry has edged even closer to 100 percent utilization, indicated by the substantial rise in the March FTR Trucking Conditions Index.
The overall demand for spot market truck capacity has been very high as well. According to Cass, “Reduced productivity caused by regulatory drag and the negative impact of the winter weather have pushed capacity to its limits.”
Category: Featured, General Update
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