The Cass Freight Index saw year-over-year declines widen in May, a result likely worse than many had been expecting.
The shipments component of the index fell 23.6% year-over-year in May, outpacing the 22.7% year-over-year decline reported in April. Freight expenditures dropped 21.2% year-over-year, worse than the 18.2% year-over-year decline reported in the prior month.
Shipments did improve slightly from April – up 1.6% sequentially.
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