It is ironic when you read articles that freight is on the rebound but when you actually see the figures, that is grossly overstated.
The Freight Transportation Services Index, which measures freight movement in tons and ton-miles, experienced the largest decline since the 2009 Great Recession. Truck tonnage saw its largest decrease on record.
In April the Freight Transportation Services Index dropped by 7.7% to 125.1 when compared with March. Compared to April 2019, the index decreased by 10%. In the previous two years, the Freight Transportation Services Index in April increased year to year. In April 2019, it rose by 2.7% preceded by an 8% increase in 2018.
The monthly decrease is the largest since…