Cass: TL rates jump 11% in August, freight shipments turn positive

In August, truckload linehaul rates surged by 11.3% year over year, according to Cass Information Systems data. This marked the largest jump since June 2022 and the 20th consecutive year-over-year increase. Freight shipments turned positive for the first time in three and a half years, increasing by 2.1% year over year, after 42 months of declines.

This was the first year-over-year increase in shipments since July. The positive trend in shipments drove Cass expenditures index, which measures total freight spend, to surge 18.7% year over year in August. The report suggests tepid freight demand moving forward due to elevated risks to consumer spending.