Cass Information Systems data reveals a significant 11.3% jump in truckload linehaul rates and the first positive shipment growth in over three years, suggesting a recovery in the freight sector.
Cass-reported TL rates jumped 11% y/y and shipments turned positive for the first time in years, signaling a freight market recovery that directly benefits Cass's payment management business.
Cass Information Systems reports an 11.3% year-over-year surge in truckload linehaul rates for August, marking the largest increase since June 2022. Simultaneously, freight shipments recorded their first year-over-year growth in 42 months, rising 2.1% and signaling a potential bottom in the freight market cycle.
The index suggests the freight market has likely hit a bottom, with contract rates rising and shipment volumes finally turning positive after years of contraction.