What is happening: Trucking shipments and expenditures grew in September, according to the Cass Freight Index.
Shipments: Trucking shipments rose 1.1% in September after falling in August. This represented an 8.2% year on year growth.
Expenditure: The money spent on freight trucking also went up in September, with a rise of 2.5% from August and 19.3% year on year.
Supply/demand: Demand continues to be greater than the supply when it comes to trucking. Cass warn that the inflation could affect the wider economy.
Tariffs: It appears many shippers rushed goods into the US to avoid upcoming tariffs.
What did the Cass report say: “Despite all the recent turmoil in the financial markets and the resulting concerns about the strength of the economy… the Cass Freight Shipments Index is clearly signaling that the U.S. economy, at least for now, continues to be extraordinarily strong. When shipment volume is up 8.2% it is the result of an expanding economy.”