In 2022, U.S. Bank processed $46 billion in freight payments for some of the world’s largest corporations and government agencies. Those payments and the data that accompanies them are analyzed quarterly by Bobby Holland, U.S. Bank vice president and director of Freight Data Solutions and his team. The FPI report includes quarter over quarter, year over year, and full year data and analysis.

In Q4, truck freight shipments experienced the largest year-over-year drop in volume since the third quarter of 2020 – the height of the COVID-19 pandemic. Although volume is down, driven in part by a decline in consumer spending, carrier spending did not decline significantly, suggesting that capacity is tight and that cost pressures are driving smaller carriers out of the market.

In this interview, Bobby is joined by Enrique Alvarez from Vector Global Logistics to share the results of the Q4 2022 report with Supply Chain Now Co-hosts Greg White and Scott Luton, interpreting what they may mean for the economy and the shipping industry in the short and longer term.

• How high interest rates are influencing consumer spending, and the impact this is having on the freight marketplace

• Secondary headwinds from a slowdown in manufacturing activity and construction spending

• Why the Southwest was the only region of the five defined by U.S. Bank to experience growth in shipments and spending

Additional Links & Resources:

Learn more about Supply Chain Now: https://supplychainnow.com

Check out our new Supply Chain Now Media Kit: https://bit.ly/3zKRLyL

Subscribe to Supply Chain Now and all other Supply Chain Now programs: https://supplychainnow.com/subscribe

Leveraging Logistics and Supply Chain for Ukraine: https://vectorgl.com/stand-with-ukraine/

2022 Q4 U.S. Bank Freight Payment Index: https://freight.usbank.com

WEBINAR- 3 Ways to Future-Proof your Shipping for 2023 and Beyond: http://bit.ly/3A6CSYr

WEBINAR- Balancing Cost, Risk, and Sustainability in the Midst of Uncertainty: http://bit.ly/3kYufuy

This episode is hosted by Scott Luton and Greg White. For additional information, please visit our dedicated show page at: https://supplychainnow.com/analysis-us-bank-q4-freight-payment-index-1082