The October edition of the Cass Freight Index reported declines in both freight shipments and expenditures. The shipments reading fell 2.4% year-on-year, marking its eighth consecutive annual decline. Expenditures also dropped by 5.9% annually, attributed in part to declining fuel prices. Tim Denoyer, the report’s author, noted that while overall goods demand is increasing, it is not translating to the for-hire market, which saw a 5.5% decline in 2023. Analysts view the Cass Freight Index as a reliable indicator of market conditions and freight volumes.

Source: https://www.logisticsmgmt.com/article/october_freight_shipments_and_expenditures_see_annual_declines_notes_cass_freight_index/