Freight shipments and expenditures improved from January to February but remained underwater compared to last year, Monday data from the Cass Freight Index showed.
Shipments increased 7.3% from January, up 2% when adjusted for normal seasonal trends, and were just 4.5% lower year over year (y/y). The y/y decline was the smallest in 10 months and 3.1 percentage points lower than January’s decline.
Severe winter weather in January as well as an extra day in February favorably impacted the...