The U.S. Bank Freight Payment Index reported that the truck freight market concluded 2024 with further declines in both shipments and spending. Fourth-quarter shipment volume was down 4.7% compared to the prior quarter, while spending dropped 2.2%.
This data indicates a continued contraction in the freight market, reflecting ongoing economic headwinds. The index measures quantitative changes in freight shipments and spend activity based on transactions processed through the U.S. Bank Freight Payment platform.
Despite the contraction, the pace of decline has shown some moderation in previous quarters. U.S. Bank provides these insights to its customers to help them make informed business decisions in a challenging freight environment.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.