Fed ‘Beige Book’ Shows Increased Transport Activity

Freight transportation activity increased in June and July, with volume gains in several regions, the Federal Reserve said Wednesday.

Activity improved in the Cleveland, Atlanta, Kansas City, Dallas and Philadelphia Fed regional districts, the only districts whose Fed mentioned transportation in the latest “beige book” report.

Freight transport leaders in the Cleveland district reported that volume continued to improve, though the profit gains were only moderate.

Transportation costs increased in the Atlanta, Dallas and San Francisco regions, the Fed said, and carriers in the Richmond district were attempting to raise rates.

Firms in the Atlanta district saw transportation costs rise, but did not plan to pass the costs on to shippers.

Transportation companies in the Kansas City district plan to increase capital spending in the next six to 12 months, the Fed said.

The Fed releases its beige book report eight times a year. Wednesday’s report, which covered the period of May 28 through July 19, was prepared by the St. Louis Fed.