Freight volumes returned to pre-pandemic levels last month, according to the Cass Freight Index for July. FrankCNBC breaks down what you need to know.
The Cass Freight Index for July shows volumes of goods being shipped by road and rail in North America returning to pre-pandemic levels.Freight shipment volumes were only 0.5% higher than in July 2019 but 15.6% higher than in the same period last year. Shipments declined 3% from June.
Freight shipment volumes were only 0.5% higher than in July 2019 but 15.6% higher than in the same period last year. Shipments declined 3% from June. Expenditures, a measure of the cost of shipping, was 22.7% higher than in July 2019 and 43% higher than in 2020. Still, costs were nearly 5% lower than in June.
Bernstein Transportation analyst J. David Vernon said the July report indicates supply chains and especially trucking routes are still disrupted due to Covid-19.
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