A look at some trucking-related economic indicators to come across the wire in the last week:
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Freight, freight spending up: Cass reported last week index readings for May from both its Cass Freight Index Report and its Cass Truckload Linehaul Index — the former a measure of freight shipments and spending and the latter a measure of truckload rate changes.
Freight shipments in the month rose 2.3 percent from April, Cass reported, while freight payments rose 1.5 percent. Both, however, were down from the same month in 2014. Cass says though GDP growth in the year has been stagnant, freight growth has been strong.
Meanwhile, tight capacity and increasing freight demand continued to drive rates up in May, Cass reported in its monthly Truckload Linehaul Index. Rates in all three major truckload segments rose in the month. Cass’ index was up 3.5 percent from May 2014 and 9.5 percent from May 2013.[/gttable]
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