POST Online Media Lite Edition


U.S. cargo shipments down 5.9% in July

Christian Fernsby |
A nationwide U.S. economic contraction, not just a freight recession, could arrive soon, according to Cass Information Systems’ July freight report.

Article continues below

Topics: U.S.    CARGO    SHIPMENT   

Cass reported U.S. freight shipments dropped 5.9% from July 2018.

In its Freight Shipments Index report, Cass acknowledged the previous contractions could be excused as comparisons with a great year, 2018.

But now, after eight months of freight contractions, the research firm believes a nationwide slowdown, one that would affect the entire economy, could take hold at the end of the year.

“With the 5.9% drop in July, following the 5.3% drop in June, and the 6.0% drop in May, we repeat our message from last two months: The shipments index has gone from ‘warning of a potential slowdown’ to ‘signaling an economic contraction,’ ” Cass reported in its Aug. 15 report.

And more ominously: “Although the initial Q2 [of] 2019 gross domestic product was positive, it was not as positive upon dissection, and we see a growing risk that GDP will go negative by year’s end.”

What to read next

Worldwide PC shipments declined 4.6 percent in first quarter of 2019
Cargo theft in US decreased in 2018, California worst
Air cargo market to grow 5.97 percent