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.
