April Freight Trends Jump, 2021 To Be ''Extraordinarily Strong Year''
Shipments and expenditures surged again in April, according to data released by Cass Information Systems (NASDAQ: CASS ) on Wednesday. The Cass Freight Index returned a 27.6% year-over-year increase in shipments with the expenditures component of the index jumping 45.1%. The comparisons to the prior year reflect widespread quarantine mandates that brought the economy to a temporary halt. The year-over-year growth rate for shipments was a new record, outpacing the rate of recovery seen following the 2008-09 recession. Shipments fell 3.1% from March on a seasonally adjusted basis as expenditures increased 1.1%. March numbers reflected a freight snapback following February''s severe winter storms, which caused widespread transportation outages and delays. The shipments index was only slightly below pre-pandemic levels, off 1.3% when compared to April 2019. The report''s author, ACT Research''s Tim Denoyer, believes supply issues weighed on April''s sequential change as well. "While some of the March m|m increase was makeup from activity lost during the polar vortex in February, our sense is the April m|m decline was due more to ongoing supply constraints and the deepening
April Freight Trends Jump, 2021 To Be ''Extraordinarily Strong Year''
Shipments and expenditures surged again in April, according to data released by Cass Information Systems (NASDAQ: CASS ) on Wednesday. The Cass Freight Index returned a 27.6% year-over-year increase in shipments with the expenditures component of the index jumping 45.1%. The comparisons to the prior year reflect widespread quarantine mandates that brought the economy to a temporary halt. The year-over-year growth rate for shipments was a new record, outpacing the rate of recovery seen following the 2008-09 recession. Shipments fell 3.1% from March on a seasonally adjusted basis as expenditures increased 1.1%. March numbers reflected a freight snapback following February''s severe winter storms, which caused widespread transportation outages and delays. The shipments index was only slightly below pre-pandemic levels, off 1.3% when compared to April 2019. The report''s author, ACT Research''s Tim Denoyer, believes supply issues weighed on April''s sequential change as well. "While some of the March m|m increase was makeup from activity lost during the polar vortex in February, our sense is the April m|m decline was due more to ongoing supply constraints and the deepening