Cass Freight Index shows mixed shipment and expenditure readings for November.  

Jan 1, 2023 | Uncategorized

Cass Freight Index shows mixed shipment and expenditure readings for November.  

The Cass Freight Index® is a trusted measure of the North American freight market that provides valuable insight into freight trends as they relate to other economic and supply chain indicators and the overall economy.  Many freight transportation and logistics executives and analysts consider the Cass Freight Index to be the most accurate barometer of freight volumes and market conditions.  

According to the most recent report, freight shipments and expenditures were mixed for November. November’s shipment reading of 1.201­ was down 0.4% annually, falling short of the 2.9% and 4.8% annual gains seen in October and September, respectively. It also trailed August’s 1.278 reading, which marked the highest level for shipments since May 2018. On a two-year stacked change basis, November shipments are down 1.9% and were down 1.9% and 0.5% on a month-to-month and month-to-month seasonally adjusted (SA) basis, respectively. 

“After some noise in recent months related to comparisons and other temporary factors like repositioning mistimed inventory, and consumers getting ahead of rising interest rates, freight volumes settled back to a flattish level in November versus a year ago,” wrote the report’s author Tim Denoyer, ACT Research vice president and senior analyst. 

Denoyer added that it remains a very stable environment overall, with the caveat that there are still many headwinds, specifically sharpening declines in imports, into the West Coast in particular, which suggest near-term trends could soften further. He also noted that normal seasonality from here would have shipments down 5% annually in December and about flat for the year. 

November expenditures—at 4.476—increased 4.7%, below October’s 11.1% annual increase and was up 50.7% on a two-year stacked change basis. Expenditures were up 3.7% and 4.4%, respectively, on a month-to-month change and month-to-month change SA basis. 

 “Expenditures rose 1.8% m/m after a 4.9% drop in October,” observed Denoyer. “Against a shipment decline of 1.9% m/m in November, we can infer that rates overall were up 3.7%. The increase in rates m/m appears mainly due to changes in modal mix.” 

 

About Us

Celtic Marine and Logistics develops and delivers independent cost-effective transportation services that are uniquely designed to meet the specific needs of each of our clients. We use our vast knowledge and experience in the transportation and logistics industry to deliver a full service transportation solution.

Related Blogs