Cass Freight Index Jumps 13.8% in March
Freight movements jumped 13.8% in March from a year ago, with volume up for all transportation modes, according to the most recent Cass Freight Index.
Shipments were up 6.9% from last March, the first sizeable rise since August 2010, the report said. Freight expenditures in March were up 33.6% from a year ago.
Truck tonnage is continuing to grow while capacity is beginning to tighten in many markets, said the report, released Wednesday.
The Cass index is published by a St. Louis bank that pays freight bills.
The United States also is feeling the after effects of Japan’s March 11 earthquake and tsunami, with a disruption in supply chains most immediate.
Japan’s rebuilding will take a lot of resources and is likely to bid up prices for raw materials on the world market, the report said, adding that U.S. produces many of the goods Japan will need in large quantities, which should bolster exports.
