Expenditures

July’s shipment reading—at 1.122—was down 8.9% annually and down 2.2% compared to June. July expenditures, at 3.423, were down 24.4% annually, in line with June’s 24.5% annual decline and were off 2.8% compared to June.

June’s shipment reading, at 1.147, was down 4.7% annually and down 1.6% compared to May. June expenditures, at 3.520, saw a 24.5% annual decline, steeper than May’s 15.7% decline, and were off 2.6% compared to May.

May’s shipment reading—at 1.166—was down 5.6% annually and up 1.9% compared to April. May expenditures—at 3.614—saw a 15.7% annual decline and were down 6.8% compared to April.

April’s shipment reading, at 1.144, was down 2.4% annually and was off 1.0% compared to March, and the expenditures reading, at 3.877, fell 14.0% annually and was down 1.0% compared to March.

The report’s first quarter shipment index value—at 111.7—was down 0.8% compared to the fourth quarter and fell 6.1% annually, marking the fourth consecutive quarter of annual shipment declines. And the freight spend index value—at 269.9—was down 0.2% compared to the fourth quarter and was down 0.3% annually. The reading saw its first annual decline going back to the third quarter 2020.

March’s shipment reading—at 1.155—was down 4.0% annually and fell 1.0% compared to February. The March expenditures reading—at 3.961—was down 12% annually and fell 1.5% below February’s 4.020 reading.

January’s shipment reading—at 1.124—saw a 4.3% annual increase and up 1.3% compared to December. Expenditures—at 4.096—saw a 1.7% annual increase and were down 3.2% compared to December.

Fourth quarter freight shipments—at 113.0—were down 4.6% compared to the third quarter, for the largest sequential decline since the first quarter of 2021, and were down 7.1% annually, marking the largest annual decrease since the third quarter 2020. For expenditures, the fourth quarter reading—at 272.3—was off 0.2% compared to the third quarter and was up 1.8% annually. The annual gain represented its lowest increase since the third quarter 2020.

December’s shipment reading—at 1.161—was down 3.9% annually, and December expenditures—at 4.231—fell 4.3%.

November’s shipment reading—at 1.201­—was down 0.4% annually, falling short of the 2.9% and 4.8% annual gains seen in October and September, respectively. November expenditures—at 4.476—increased 4.7%, below October’s 11.1% annual increase and was up 50.7% on a two-year stacked change basis.

October’s shipment reading—at 1.224—saw a 2.9% annual gain, falling short of the September’s 4.8% annual increase and was also below August’s 1.278 reading, which marked the highest level for shipments since May 2018. On the expenditures side, the report said that October’s 4.399 reading marked an 11.1% annual increase, and rose 52.4% on a two-year stacked change basis

The report’s third quarter shipment index value—at 118.5—was down 2.6% compared to the second quarter and was down 4.9% annually, marking the steepest annual decline going back to the first quarter of 2021. Third quarter spend was mostly down across the board, from the second quarter to the third quarter, with a 0.8% decline out West, a 5.3% decline in the Midwest and a 1.4% decrease in the Northeast, a 0.1% decrease in the Southeast, and a 1.7% increase in the Southwest. Annually, spend saw an 11.6%...

September’s shipment reading—at 1.241—rose 4.8% annually, and freight expenditures—at 4.627—climbed 21.2% annually.

The report’s second quarter shipment index value—at 121.6—was up 2.3% compared to the first quarter and essentially flat annually, down 0.9%. On the freight spend side, the index—at 279.6—was up 3.3% compared to the first quarter, while also posting a 19.7% annual gain.

June’s shipment reading—at 1.203—fell 2.3% annually, and June expenditures—at 4.665—rose 25.0% annually, slightly below May’s 27.5% annual gain.