Cass freight index dips in July
August 6, 2012
For the first time this year, freight shipments in July declined from June, according to Cass Information Systems. The Cass Freight Shipments index fell 0.7% from June. Overall, shipments for 2012 are up 9.2% from 2011, although volumes in July were up only 1.8% from July 2011. “The slow annual growth is not surprising given the extremely slow growth of the U.S. and global economies,” Cass said in its report on the July index.
Freight expenditures declined 2% in July from June, although freight spending remained 0.9% higher than a year ago. Rates rose significantly in 2011 and will probably remain fairly level for the next few months, said Cass.
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