US shipper costs hit five-year high
US shipper spending surged over thirty percent in the third quarter to reach a five-year high. National shipment volumes rose marginally while rising fuel and labor costs drove rates up.
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United States shippers paid the highest freight costs in five years during the third quarter, driven by diesel price spikes and driver shortages. Data released by US BANCORP's freight payment index on Thursday showed spending surged 32.1% year over year. The increase outpaces a stagnant shipping market, highlighting acute supply chain pressures.
