The increase matched the same rate that it grew year-over-year in June.
Analysts at Avondale Partners predict increases of 4% to 9% in 2015. The analysts say they “expect the decline in industrial freight flows, especially related to oil and gas exploration, to be more than offset by a stronger consumer backdrop.” They added they are “encouraged by the current growth streak in dry van loads, which are currently tracking toward mid-single-digit growth for 2015, which would be the strongest percentage increase performance since 2010.”
Intermodal costs were 2.9% below 2014 levels in July. Cass said the decrease comes in response to falling demand for intermodal as lower diesel prices have encouraged mode shifting to truckload. The ability for shippers to do this will remain limited, Cass said, by tight demand in the trucking sector.
The Cass Truckload Linehaul Index is a measure of market fluctuations in per-mile truckload linehaul rates, independent of additional cost components such as fuel and accessorials.