According to the February Cass Freight Index Report, February shipment volume only rose 7.3 percent from January, the weakest January to February rise on record since 2010. Compared to February 2013, shipment volume for February was down 0.4 percent. February’s freight expenditures rose 6.8 percent from January and 6.4 percent from February of last year.
The good news is, February’s New Order Index rose 3.3 points and the backlog of orders grew 4.0 points indicating that production will likely pickup in the next couple months resulting in more freight that will need to be moved.
Source: Cass Information Systems, Inc.
