U.S. Freight Shipments Plunge at Fastest Rate Since 2009, Hit 2011 Level: This is Getting Surprisingly Ugly

by Wolf Richter
Wolf Street

Why is this happening?

Shipment volume in the US by truck, rail, air, and barge plunged 7.9% in December 2019 compared to a year earlier, according to the Cass Freight Index for Shipments. It was the 13th month in a row of year-over-year declines, and the steepest year-over-year decline since November 2009, during the Financial Crisis:

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