U.S. Bank Freight Payment Index Showed Evidence of a Rebalance From Q1, but Year-over-year Remains Down
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U.S. Bank Freight Payment Index showed evidence of a rebalance from Q1, but year-over-year remains down. (Graphic:
- Shipment and spend saw linked quarter gains throughout the U.S., suggesting a rebalancing from Q1.
- While the gains are welcome, specifically in shipments, they weren’t enough to fully offset the declines in Q1 or from last year.
Regional data provided context for the growth and economic factors affecting the industry.
- Midwest: despite overall growth, the region is still lower than Q2 2018, particularly for shipments.
- Northeast: increase in residential construction and improved weather conditions led to strong growth in spend and shipments on both a linked quarter basis and compared to Q2 2018.
- Southeast: solid gains in both spend and shipments on a linked quarter basis.
Southwest: softness in home building and border tensions resulted in slight gains in shipments and spend.
- West: warehouse overcapacity and continued foreign trade concerns contributed to the West’s relative weakness compared to all other regions.
"The second quarter Freight Payment Index fits with other data trends we're seeing," said
“These quarter-to-quarter changes are a welcome sign, but we aren’t telling our customers to celebrate just yet,” said
To see the full report including in-depth regional data, visit the U.S. Bank Freight Payment Index website.
Dana Stone, U.S. Bank Public Affairs & Communications
651-435-7908 office, 720-778-6667 mobile