Cass Freight Index falls 3.5% in April
May 2, 2013
North American shipment volume and overall freight expenditures both slumped in April following strong growth in March, according to Cass Information Systems, one of the leading processors of freight payments. The Cass Freight Shipments Index fell 3.5% from March and 1.3% from April 2012. Meanwhile, the Cass Freight Expenditures Index was down 1.6% month to month and 0.5% year over year. The base year for the index is 1992.
Cass said that the decreases were not unexpected given the overall slowing of the economy. “It follows the pattern we have become accustomed to in the last several years −- a strong surge raising expectations followed by an erosion of the gains,” Cass said in its monthly report. Cass said April’s declines were significant because once again both the number of shipments and dollars spent have fallen below same month 2012 levels and because the number of shipments is even lower than the April 2011 level. “This is indicative of the slow growth experienced since 2010 that has created a very narrow bounding range for each measure, with a small difference between the lows and the highs.”
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