Cass Freight Index Rises 1% in November
The Cass Freight Index, which measures shipment activity in trucking and other transport modes, increased 1.1% in November from a year ago. Expenditures increased 7.8% from 2012.
Expenditures — freight payments to carriers by shippers that are processed by Cass — increased 0.6% from October, St. Louis-based Cass Information Systems said. Month-to-month, shipments fell 1% from October.
“North American shipment volume continued on a downward path in November — not unexpected, as this
is the same weak year-end movement we have observed for the last three years,” Cass said in its report.
“Stronger than expected manufacturing activity and shipments of seasonal goods offset a general slowing of freight movements to temper the drop in shipment levels. Expenditures rose just slightly, largely because of a surge in spot market rates the last week of the month,” according to the report.
“We’re seeing mixed economic signals as we approach the end of the year. Many indicators have improved during the last several months, including new home sales, new jobs, new export orders and manufacturing production, new orders and backlog,” the report stated.
“Despite the better-than-expected third-quarter GDP, the fourth quarter will not be as strong. December is likely to provide a weak finish to a relatively weak 2013 for the freight industry.”
