Cass Freight Shipment Index Report Little Changed From October
The Cass Freight Index of shipments held steady last month, compared with October, and fell 5.1% from November of last year as the economy remained sluggish.
The Cass Information Systems index, which measures more than $23 billion in freight bills paid annually, is based primarily on trucking, though rail, air and barge shipments are included. The shipment index is at the lowest November level since 2011, said the statement from the affiliate of a St. Louis bank.
“Although the economy continued to be sluggish in November, our Freight Shipments Index was stronger than expected,” the report noted. “Black Friday sales — combined with Cyber Monday sales — were very strong this year as customers took advantage of reduced prices and discounts, placing orders before the cost of shipping goes up for the remainder of the holiday period.”
Railroads were among the weak sectors, with a 6% decline in shipments overall. On the manufacturing side, the Institute for Supply Management’s Purchasing Manager’s Index fell. American Trucking Associations’ November tonnage index hasn’t yet been released.
Cass also publishes an index of freight spending, which fell 9% year-over-year and 1% on a sequential basis.
