monetarywatch | When less stuff is being bought, sold and shipped around the country
with each passing month, how in the world can the U.S. economy be in
“good shape”? Unlike official government statistics which are often
based largely on projections, assumptions and numbers seemingly made up
out of thin air, the Cass Freight index is based on real transactions
conducted by real shipping companies. And what the Cass Freight Index
is telling us about the state of the U.S. economy in 2016 lines up
perfectly with all of the other statistics that are clearly indicating that we have now shifted into recession mode.
Since 1995, the Cass Freight Index™ has been a trusted
measure of North American freight volumes and expenditures. Our monthly
Cass Freight Index Report provides valuable insight into freight trends
as they relate to other economic and supply chain indicators and the
overall economy.
Data within the Index includes all domestic freight modes
and is derived from $25 billion in freight transactions processed by
Cass annually on behalf of its client base of hundreds of large shippers.
These companies represent a broad sampling of industries including
consumer packaged goods, food, automotive, chemical, OEM, retail and
heavy equipment. Annual freight volume per organization ranges from $1
million to over $1 billion. The diversity of shippers and aggregate
volume provide a statistically valid representation of North American
shipping activity.
When they say “all domestic freight modes”, that includes air, rail,
truck, etc. As you are about to see, the total amount of stuff that is
being bought, sold and shipped around the country by all these various
methods has now been declining for 15 months in a row.
If it was just one or two months you could say that it was just an
anomaly, but how in the world can anyone explain away 15 consecutive
months?
Not only that, but the brand new number that just came out for May
2016 is the lowest number that we have seen for the month of May in 6 years.
Of course the number for April was the lowest number that we have
seen for that month in 6 years too, and the number for March was also
the lowest number that we have seen for that month in 6 years.
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