U.S. Bank: Truck freight volume rises across all regions in Q2
National volumes and spending increase sequentially for the first time in three years
“While the national year-over-year metrics remain down, the second quarter’s sequential growth in both shipments and spending are a welcome shift after years of contraction,� said Bobby Holland,
Compared with the second quarter of 2024, national shipments were down
“With unevenness in key freight drivers like manufacturing, housing, and port activity, the quarter-over-quarter gains are encouraging,� said Bob Costello, senior vice president and chief economist at the American Trucking Associations. “There are signs the industry is beginning to rebalance, even if the road ahead remains bumpy.�
The
Data
National
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Spending
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Regional
West
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Freight volumes in the West rose for the second straight quarter, supported by port activity and inventory movements.
Southwest
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The Southwest posted the largest sequential shipment gain among regions, though volumes remain well below year-ago levels.
Midwest
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Freight activity in the Midwest improved sequentially, the largest quarter-over-quarter increase in three years. The region had solid home construction but flat-to-down consumer spending.
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The Northeast, which has experienced some of the largest volume declines in recent years, led all regions in year-over-year shipment and spending growth, driven by housing starts and auto sales.
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The slight sequential increase in volume was just the second increase since the third quarter of 2021. Freight in the area was impacted by soft manufacturing and consumer activity.
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About U.S. Bancorp
U.S. Bancorp, with approximately 70,000 employees and
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Todd Deutsch,
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Source: U.S. Bancorp