Freight shipments and total freight spend remained under pressure again in May, according to data from Cass Information Systems.
Shipments in May were flat with April but down 5.8% year over year (y/y). The y/y decline was 1.8 percentage points more pronounced than in April, and when adjusting for seasonal trends, the shipments index was off 3.1% sequentially to a 46-month low.
The Monday report noted “ongoing softness in for-hire demand” as loads normally pegged for the for-hire market are being...
https://www.freightwaves.com/news/freight-markets-pressured-again-in-may-cass-data-shows