August data from Cass Information Systems shows a sequential surge in expenditures, a proxy for freight rates, with shipments stepping higher as well. The year-over-year comparisons for both subindexes were materially higher again.
Freight rates up and to the rightThe expenditures component of the Cass Freight Index (NASDAQ: CASS) jumped 11.3% from July on a seasonally adjusted basis, 42.2% higher year-over-year. Roughly 90% of the increase in the index was tied to higher freight rates. Compared...
https://www.freightwaves.com/news/rates-red-hot-in-august-shipments-high-but-capacity-constrained