Shipments Index Grows for Second Straight Month

The Cass Freight Index of domestic U.S. shipping fell 20 percent in June compared to the last year, but the closely watched measure also showed signs of expansion with the second straight advance in shipping from month to month.

The index of shipments grew 2.2 percent from May to June, reaching its highest level since February. The shipments index has grown 6.6 percent since April, suggesting freight activity is picking up after reaching the bottom of a steep decline over the past year.

The index of freight spending also signaled growing moves by shippers to push goods to customers, expanding 4.1 percent from May to June in the second consecutive month-to-month increase.

The freight expenditures index fell 29.4 on a year-over-year basis, a record fall for that measure, but it also follows the dramatic increase in energy costs last summer that inflated spending figures.