According to the Cass Freight Index, there has been a yearly decrease in freight shipments and spending.

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.