yo!.. bottom line... innit!
(August 19)
July 2020 Cass Freight Index® Held in Deep Annual Contraction,
Consistent With Bottom–Bouncing Manufacturing,
but Running Increasingly Counter to “Booming” Retail Sales
(CassInfo.com, see detail at https://www.cassinfo.com/freight-audit-payment/cass-transportation-indexes/july-2020).
The year-to-year annual decline
of 13.1% (-13.1%) in the July 2020 Cass Freight Index®
remained deep in Pandemic-driven recession territory,
having moved off its 17.8% (-17.8%) drop in June,
and the near-record 23.6% (-23.6%) contraction in May,
which held shy of the April 2009 Great Recession trough record plunge of 25.0% (-25.0%).
The Cass Index’s consecutive monthly year-to-year declines
and deepening month-to-month declines in the 12-month trailing average
held in place for the 20th straight month.
Those year-to-year and 12-month-moving-average metrics neutralize seasonality
in this unadjusted series.
ShadowStats regularly follows and analyzes the Cass Index
as a highest-quality coincident and leading indicator of underlying economic reality.
We thank Cass for their permission to graph and to use their numbers in our Commentaries.
NOW FOR SOMETHING COMPLETELY DIFFERENT
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