Shipments and expenditures surged again in April, according to data released by Cass Information Systems (NASDAQ: CASS) on Wednesday.
The Cass Freight Index returned a 27.6% year-over-year increase in shipments with the expenditures component of the index jumping 45.1%. The comparisons to the prior year reflect widespread quarantine mandates that brought the economy to a temporary halt.
The year-over-year growth rate for shipments was a new record, outpacing the rate of recovery seen following the 2008-09 recession.
Shipments fell 3.1% from March on a seasonally adjusted basis as expenditures increased 1.1%. March numbers reflected a freight snapback following February’s severe winter storms, which caused widespread transportation outages and delays.
The shipments index was only slightly below pre-pandemic levels, off 1.3% when compared to April 2019.
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