US Freight Market Reverses Gains in Third Quarter as Volumes Fall

The U.S. truck freight market saw a reversal in the third quarter, with conditions deteriorating and reversing a brief second-quarter improvement, according to a new report by freight audit and payment provider U.S. Bank. Compared to the second quarter, national shipment volumes fell 2.9%, while shipper spending increased 2%, according to the latest U.S. Bank Freight Payment Index.

A theme to watch is the ongoing divergence between falling freight volumes and higher freight costs, suggesting that carriers continue to exit the market despite higher rates being paid for freight....

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