SPY & Cass Freight Index
An index of freight shipment volumes in North America, measuring the number of freight shipments across all modes of transportation.
SPY Price
Cass Freight Index: Shipments
Year-over-Year Change
What It Measures
The Cass Freight Index measures the number of freight shipments across North America. It is derived from Cass Information Systems' freight payment database, which processes over $60 billion in freight transactions annually for hundreds of large shippers. The index covers: - Truckload and less-than-truckload (LTL) shipments - Rail shipments - Intermodal shipments - Air freight The index is seasonally adjusted and expressed relative to a base period (January 1990 = 1.000).
Why It Matters
**Leading Economic Indicator**: Freight volumes typically lead GDP by several months, as goods must be shipped before they can be sold. **Supply Chain Pulse**: Provides real-time insight into supply chain activity and inventory movements. **Consumer Demand Proxy**: Rising shipments often indicate strengthening consumer and business demand. **Manufacturing Confirmation**: Helps confirm or contradict signals from manufacturing surveys like ISM.
Key Levels
Data Sources
SPY: S&P 500 ETF daily OHLCV data (1993-02-02 to 2026-01-22)
Freight Index: FRGSHPUSM649NCIS - Cass Freight Index from Cass Information Systems
Units: Index Jan 1990=1.000, Seasonally Adjusted, Monthly