The Outbound Tender Volume Index (OTVI) fell 3.4% week-over-week (w/w). This is a meaningful decline, but shouldn’t be seen as a trend. Tender volumes are following the seasonal lull, but at a much higher level. Due to the high level of tender rejections, it is important to adjust OTVI to account for this. On a rejection-adjusted basis, tender volumes are up 23% year-over-year (y/y), up from 20% last week.
The pace of consumer spending slowed last week according to Bank of America card spending...
https://www.freightwaves.com/news/outbound-tender-volumes-continue-to-fall