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Freight Index Slips 0.5 Percent
Monday, 03 August 2009 00:00

But year-over-year 15.3 percent drop in Cass index is best in 11 months

A closely watched index of industrial shipping in the United States fell back slightly in July from the month before, Cass Information Systems announced Monday, amid growing signs that the year-long decline in freight shipping has bottomed out.

The Cass Freight Index for shipments fell 0.5 percent on a month-to-month basis, the first decline after two straight months of gains.

But July's 15.3 percent decline against the same month a year ago was the slimmest year-over-over decline Cass has registered since August 2008.

The Cass index for freight expenditures also signaled industrial shippers are maintaining their shipment activity, albeit at low levels.

The spending index remained steady, growing just 0.1 percent in July from June. On a year-over-year basis, the index declined 28.6 percent from the same month last year, a period when fuel prices were at historic highs.

Journal of Commerce, 8/3/2009