The September figures from the Cass Freight Index released by Cass Information Systems indicate significant declines in both freight shipments and expenditures. Shipments fell 5.2% year-over-year, marking the seventh decline in eight months, while expenditures decreased by 6.6% annually. Despite a 2.4% month-over-month rise in expenditures, this was attributed to increased freight rates rather than volume, as shipments also dropped 1.7% month-over-month. Analysts expect continued declines in freight activity, projecting further decreases in the coming months and into 2024.

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