Cass: Freight Shipments Bounce Back In May, Expenditures Dip From Record Highs Cass: Freight Shipments Bounce Back In May, Expenditures Dip From Record Highs By Todd Maiden of FreightWaves Freight shipments bounced back in May as transportation costs retreated from record highs, according to a report from Cass Information Systems. The shipments component of the Cass Freight Index increased 5.4% from April (4% higher on a seasonally adjusted basis), which more than recouped April’s 2.6% decline . Compared to 2021, shipments were 2.7% lower “on a tough comparison.” “After a nearly two-year cycle of surging freight volumes, two key drivers of growth for the freight cycle — goods consumption and inventory restocking — are faltering,” ACT Research’s Tim Denoyer commented. The shipments index is now on par with the 2019 downturn, up only 0.6% compared to May of that year. If normal seasonality holds, the index will be 2% higher year-over-year in June and flat to up 1% for all of 2022. “The news from the retail sector and in the oil markets suggest that’s probably optimistic, but at this point, it’s a pretty stable environment, no major downturn,” Denoyer said.