The Breakthrough Monthly Freight Index
Elevate your freight strategy with the Breakthrough Ecosystem. Stay informed with the latest freight index and market update, empowering you to navigate shifts in demand and capacity.
Freight index analysis
In July, freight volumes saw a slight decline of 0.2% month-over-month but a notable increase of 3.5% year-over-year. This modest dip, alongside significant annual growth, was unexpected as July typically experiences a seasonal downturn before the peak season in August. This year, however, volumes exceeded expectations due to higher import activity and a gradual rise in consumer spending.
Nationwide demand increased, with only minor declines in the central states from Minnesota and North Dakota to Texas and Louisiana. Freight volumes varied by industry, with consumer packaged goods and durable goods noting monthly increases, despite year-over-year declines. In contrast, the paper and packaging, food and beverage, and retail sectors showed growth.
Freight market update
Published: August 20, 2024
This year, the freight market is navigating a balance between upward and downward pressures on demand. Recently, U.S. imports surged, increasing freight demand as we approach peak season. This rise is due to shippers advancing freight movements to avoid disruptions from labor negotiations at East Coast ports and expected tariff increases on China next year. However, challenges persist. The disappointing July employment report led to a market sell-off. Inflation remains above the 2% target but is trending downward. The Federal Reserve is expected to cut interest rates in September, with more clarity anticipated from upcoming data releases.
Adapt to freight market demands
To maintain a competitive advantage, integrate innovative strategies that leverage data, technology, and market expertise. By doing so, you can take a proactive approach to procurement.
Access real-time data
Prepare for the forecasted increase in freight demand by having access to a real-time, shipper-transacted dataset. With this type of data at your fingertips, you can benchmark your network against other industry-leading shippers and uncover opportunities within your transportation network.
Invest in relationships
Invest in mutually beneficial relationships with carriers to be prepared for any sudden changes in freight demand or capacity. Leverage Capac-ID to determine if alternative carriers might be a better match for certain lanes and loads.
Leverage a trusted source
Keep informed about market shifts to adjust your transportation plans promptly. By leveraging unbiased market expertise from sources like Breakthrough, you can effectively communicate market dynamics to your C-suite, enhancing your credibility as a transportation leader.
About the Breakthrough Ecosystem
The Breakthrough Ecosystem is one of the cleanest and most robust sets of transportation data in the U.S.
23+ million shipments
$28 billion in transportation spend
12+ billion commercial miles
1.5+ billion gallons of diesel fuel
Take control of your freight network
Experience firsthand how Breakthrough’s innovative freight solutions can keep a constant pulse on your transportation network performance and identify areas for cost reduction and efficiency gains.