Freight Volumes Down Year-over-year in March

North American freight shipments and expenditures on a year-over-year basis were down 5.1% and 3.5% respectively, while month-to-month numbers rose just slightly – 0.3% and 1.0%.

Some of the more recent upswing could be attributed to the West Coast ports.

That said, according to Cass Information Systems, “the U.S. and global economies did not grow as much as expected in the first quarter, but freight movement in the U.S. continues to strengthen.”

Freight expenditures rose 1 percent in March, following a 4.3 percent increase in February. The group futrher noted that rates are rising, especially as capacity tightens in many markets.

DAT Solutions reported that van rates were up 2.8 percent, flatbeds up 2.8 percent and reefers up 1.7 percent.

Furthermore, DAT noted that monthly average rates have increased year over year for more than 20 consecutive months.

Railroad shipments were up 4.2 percent for carload traffic and 12.6 percent for intermodal, after falling in February. Truck shipments were down in February (the latest month available), largely due to bad weather in most of the country. However, the DAT Solutions spot market freight volume indexes, rose 34 percent in March compared to February.

DAT also reported that freight availability had declined 28 percent in March, suggesting higher rates going forward

Category: Featured, General Update