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April freight trends jump, 2021 to be ‘extraordinarily strong year’

Shipments and expenditures surged again in April, according to data released by Cass Information Systems on Wednesday.

 

The Cass Freight Index returned a 27.6% year-over-year increase in shipments with the expenditures component of the index jumping 45.1%. The comparisons to the prior year reflect widespread quarantine mandates that brought the economy to a temporary halt.

 

The year-over-year growth rate for shipments was a new record, outpacing the rate of recovery seen following the 2008-09 recession.

 

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