North American Freight Shipping Down Again And Total Business Sales Still Falling

 

The Cass Freight Index, a “Measure of North American Freight Volumes” is up for the month of March but down once again on a year-over-year basis.

March shipping is 1.5 percent below the same month a year ago.

Both shipping and expenditures are lower than March 2015, 2014, and 2013.

A few charts show the slowing rate of freight shipping and the reasons behind it.

Cass Shipping Index

Cass 2016-04-17A

Cass Expenditures Index

Cass 2016-04-17B

The above indexes clearly are not seasonally adjusted so the the only valid comparison for March of 2016 is to March in prior years.

Shipping Look Ahead

The intermediate-term outlook for shipping is weak given mounting inventories.

Merchant Wholesalers: Inventories to Sales Ratio

BI4

Total Business Sales Detail

BI7

For more on charts and analysis of factors that influence shipping please see …

Mike “Mish” Shedlock

 

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