The Cass Freight Index, a measure of shipping activity in trucking and other transportation modes, rose in August but expenditures dipped, Cass Information Systems said.
Shipping increased 2.3% in August from the year before and increased 4.9% from July, Cass said.
“As expected, the freight transportation market picked up again in August. Both imports and exports are trending upward, and new orders are growing in China and Europe,” Cass said in its report.
Freight expenditures dipped 0.3% from July but jumped 8% in August from last year.
“A further increase in freight activity in September as holiday goods begin to flow into to the country will strain capacity. So far, however, that has not been a good indicator of higher expenditures, except on the spot rate markets,” Cass said.