U.S. Freight Volumes Collapse 63% as Industry Faces Historic Downturn
Freight volumes have plummeted from an average of 56,505 tons to just 20,946 tons, marking one of the most severe contractions in recent logistics history. This dramatic decline, coupled with a 67% drop in shipment counts, signals a fundamental shift in supply chain demand that extends far beyond typical seasonal fluctuations.
Dual Axis LineFreight Revenue Per Mile Drops 21% Despite Rising Diesel Costs Over Time
Carriers are earning significantly less per ton-mile ($3.45 vs $4.36 previously) even as diesel prices have climbed steadily since 2021, creating a profit squeeze across the industry. This inverse relationship between fuel costs and pricing power suggests carriers are absorbing increased operational expenses rather than passing them to customers.
Dual Axis LineYear-Over-Year Freight Declines Accelerate as Market Conditions Worsen
The strengthening negative correlation (-0.754) between time and year-over-year changes shows freight performance is deteriorating at an accelerating pace. What began as modest declines in 2021-2022 have evolved into sustained negative growth, indicating the freight market downturn is deepening rather than stabilizing.
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