Freight Volume and Rates Up in April
While freight volume is still lagging, rates are on track for single digit increases this year. A lot is hinging on tariff decisions.
Key Observations
- Freight shipment volume rose slightly month-over-month. But the 0.4% increase was likely a blip and Cass and ACT Research predict another decline in volume for the year after declines in 2023 and 2024.
- Freight spending rose 3.3% month-over-month. The year-over-year increase was 1.2%, breaking a 28-month-long spell of YoY decreases.
- Inferred freight rates rose 2.9% in April. Cass and ACT say rates are on track for a single-digit increase this year after dropping 7% last year.
- The Truckload Linehaul Index fell again month-over-month but is still improving YoY. The index was up 0.9% YoY, a slowing from the 1.5% increase in March. The uncertain tariff situation is making it hard to predict where this index will go for the rest of 2025.
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