Cass says data continues to point toward economic contraction including freight shipments
Story by:@ FreightWaves I
Freight shipments and expenditures declined on a year-over-year basis again in September according to the latest Cass Freight Index Report.
According to the report, shipments declined 3.4% in September, the tenth straight month of year-over-year declines. On a month-over-month comparison, the index improved 0.8% to its best reading since May.
Donald Broughton, founder and managing partner of Broughton Capital and author of the report, said, “the shipments index has gone from warning of a potential slowdown to signaling an economic contraction.”
The shipments index first turned negative on a year-over-year basis in December 2018 with the declines accelerating through July (-5.9%). However, the declines have slowed a bit with August (-3%) and September (-3.4%).
Cass Freight Index – Shipments (SONAR: CFIS.USA)
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Source and credits: freightwaves.com // iTrucker / Mario Pawlowski