Freight boom barrels through May, Cass reports

Highest-ever growth rates recorded in shipments and expenditures indexes

Data released Friday from Cass Information Systems (NASDAQ: CASS) shows the freight industry advanced at a blistering pace during May. The Cass Freight Index logged the highest-ever growth rates in the shipments and expenditures components of the dataset’s more than 30-year history.

The May report showed the shipments index jumped 35.3% higher year-over-year. While the comparisons reflect year-ago demand weakness as large parts of the nation and economy remained under lockdown, the index...

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