April data from payment services provider Cass Information Systems showed optimism around “seasonal improvement in May” but noted the year-over-year (y/y) comps will remain depressed going forward.
The shipments component of the Cass Freight Index was down 2.4% y/y in April and 1.3% lower on a seasonally adjusted basis than in March. The sequential decline during the month followed a 3.8% drop in March.
| April 2023 | y/y | 2-year | m/m | m/m (SA) |
| Shipments | -2.4% | -2.9% | -1.0% | -1.3% |
| Expenditures | -14.0... |
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Both freight shipments and costs stepped higher year over year (y/y) in September, according to Cass Information Systems. However, the comps become more formidable moving forward as the freight economy distances from record levels.
Shipments increased 4.8% y/y in September but were 2.9% lower than August levels. The shipments component of the Cass Freight Index reached a more than four-year high in August.
“U.S. freight volumes continued to exceed low expectations in September with more buoyant...
https://www.freightwaves.com/news/cass-september-increase-in-shipments-a-head-fake
Freight shipments advanced to more than a four-year high in August, according to data provided by Cass Information Systems on Wednesday. Freight costs increased again from 2021 levels but at a slower pace.
The Cass Freight Index showed shipments were up 3.6% year over year in August and 5.5% higher than in July on a seasonally adjusted basis. Additionally, July data was revised to a growth rate of up 1.9% y/y versus the initial report, which displayed a 0.4% gain. The August reading was the best...
Freight shipments bounced back in May as transportation costs retreated from record highs, according to a report from Cass Information Systems.
The shipments component of the Cass Freight Index increased 5.4% from April (4% higher on a seasonally adjusted basis), which more than recouped April’s 2.6% decline. Compared to 2021, shipments were 2.7% lower “on a tough comparison.”
“After a nearly two-year cycle of surging freight volumes, two key drivers of growth for the freight cycle — goods...
https://www.freightwaves.com/news/shipments-bounce-back-in-may-expenditures-dip-from-record-highs
Freight markets cooled in April, according to data provided by Cass Information Systems. “The prospect of freight recession is now considerable,” a Thursday report from the payments management provider read. Broad inflation, including higher diesel costs which impact the cost of everything shipped, interest rate hikes, and a transition in consumer buying habits to services from goods, drove the decline.
Freight shipments posted a modest dip in April, down 0.5% year-over-year, but a 3.5% decline...
https://www.freightwaves.com/news/cass-the-freight-cycle-has-downshifted-with-a-thud
Freight shipments advanced in March but at a slower pace, according to data released Wednesday from Cass Information Systems. Freight expenditures, however, continued upward at a blistering pace.
The volumes subset of the Cass Freight Index increased just 0.6% year-over-year in March, 300 basis points slower than the growth rate logged a month ago. The dataset was also 1% lower than February when seasonally adjusted.
“While a few points of softness in Q1 were due to omicron-related absenteeism,...
https://www.freightwaves.com/news/cass-reports-freight-slowdown-in-march
Freight shipments were up in February following an omicron-related dip in January, according to Cass Information Systems. A Monday report showed the shipments index increased 3.6% sequentially on a seasonally adjusted basis and by the same percentage compared to the year-ago period.
The volumes dataset clawed back nearly half of January’s decline. An elevated number of cases were reported in early February, which meant absenteeism was still a headwind to freight flows to start the month.
“Omicron...
https://www.freightwaves.com/news/shipments-rebound-in-february-costs-at-record-levels
Freight shipments fell 7.4% seasonally adjusted from December to January, according to a Monday report from Cass Information Systems. The volumes component of the Cass Freight Index was also 2.9% lower year-over-year. The report called out a rise in omicron cases as the reason.
The drop in volumes “is about as good an answer as we have to the question of how big an impact Omicron-related absenteeism and quarantines had on the freight economy,” ACT Research’s Tim Denoyer commented in the report.
He...
https://www.freightwaves.com/news/cass-omicron-hits-january-volumes-costs-rates-still-way-up
Another month, another increase in freight shipments and expenditures, according to a Wednesday report from Cass Information Systems. The Cass Freight Index saw shipments move 7.7% higher year-over-year in December with expenditures up 43.6%.
Freight found its way through the supply chain and to consumers during the holiday season even as congestion and bottlenecks remained formidable. The shipments subindex increased 4.2% seasonally adjusted from November with the monthly year-over-year growth...
https://www.freightwaves.com/news/cass-index-on-freight-costs-to-climb-25-in-2022