Slow But Continued Growth in Freight Market
The Cass Freight Index showed continued freight market growth in the month of April. On a month to month basis North American freight volumes rose 1.9 percent from March. This pace is lower that than the increases in February and March. March increases were at 2.1 percent whereas February growth was at 2.5 percent.
The Cass Freight Index is based on freight bill processing. The index has shown steadily rising rates for the year. The report also showed spending on freight transportation has grown 3.4 percent year-over-year. These results are not surprising given the fact the economy is showing signs of sustainable but slow growth in 2012.