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Shipper savings rise as fuel prices fall - August volumes also drop 1.2pc
US FREIGHT volumes and spending dropped for the second straight month in August, the Cass Freight Index shows, casting a shadow on the fall peak inland shipping season, reports Newark's Journal of Commerce.
"The decline in shipments did not follow the typical upward movement in August," said Cass Information Systems in its monthly report.
Blame that on weak levels of new manufacturing orders in June and July, the index report suggested. Also, high inventory levels this spring may have depressed freight volumes.
"The number of freight shipments fell 1.2 per cent in August from July, following a 1.2 per cent sequential drop in that month. Year-over-year, shipments were down 4.6 percent.
The August decline in freight volume is not "normal," Cass said. "Aactivity continues to be slower than last year, but it's still much better than we have seen in other recent years," said Parsons analyst Rosalyn Wilson.
Ms Wilson and Cass expect shipping activity to pick up this month as retailers begin moving more warehoused goods to stores and consumers, it is hoped, open their wallets and spend.
"The decline in shipments did not follow the typical upward movement in August," said Cass Information Systems in its monthly report.
Blame that on weak levels of new manufacturing orders in June and July, the index report suggested. Also, high inventory levels this spring may have depressed freight volumes.
"The number of freight shipments fell 1.2 per cent in August from July, following a 1.2 per cent sequential drop in that month. Year-over-year, shipments were down 4.6 percent.
The August decline in freight volume is not "normal," Cass said. "Aactivity continues to be slower than last year, but it's still much better than we have seen in other recent years," said Parsons analyst Rosalyn Wilson.
Ms Wilson and Cass expect shipping activity to pick up this month as retailers begin moving more warehoused goods to stores and consumers, it is hoped, open their wallets and spend.
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