ThinkStock.comOctober freight volumes grew modestly but revenue rose strongly, according to the latest freight index report from Cass Information Systems.
The monthly Cass freight index said October shipment levels grew 2.2% over the same month last year, while shipper expenditures jumped 16.1%.
The index covers all modes of freight transportation.
Although both parts of the index grew year-over-year, they also contracted sequentially from September, although Cass said that is a typical seasonal pattern.
“The numbers appear to show that efforts by carriers to push up rates and recover increases in operating costs appear to be sticking,” the report said.
“The result is that while the weight of a shipment, averaged across all modes, has risen about 1%, year-over-year, the cost of transporting that average shipment has escalated dramatically.”
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