Freight Index Jumps 9.1 Percent in June

Freight Index Jumps 9.1 Percent in June

The closely watched Cass Freight Index for shipments grew 9.1 percent in June over the previous month, accelerating at a pace that contrasted with other slowing economic signals and reaching a new high for the recovery.

The index of shipping activity in the United States also expanded 18.5 percent in June over the same month a year ago.

By the Numbers: Cass Freight Index monthly year-over-year and month-to-month percent change.

Both the annual and the month-to-month gains were the strongest the shipments index has shown in a rebound from the depths of shipping activity during the 2009 recession.

The June index of 1.106 also marked the highest point so far since the Cass Information Systems’ measure began turning sharply downward in the fall of 2008.

The Cass expenditures index also grew at the sharpest rate so far, expanding 28.9 percent in June over the same month a year ago and 7.6 percent compared to May. That put the measure at 1.919, the highest point since November 2008.

The growth in the freight shipments index came as other key measures, including the Institute of Supply Management’s manufacturing index and the American Trucking Associations’ truck tonnage index, showed weaker activity.