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


Total Business Sales Detail


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

Mike “Mish” Shedlock


David Stockman's Contra Corner is the only place where mainstream delusions and cant about the Warfare State, the Bailout State, Bubble Finance and Beltway Banditry are ripped, refuted and rebuked. Subscribe now to receive David Stockman’s latest posts by email each day as well as his model portfolio, Lee Adler’s Daily Data Dive and David’s personally curated insights and analysis from leading contrarian thinkers.