Analysis of the U.S. Bank 2023 Q1 Freight Payment Index Featuring Bobby Holland & Michelle Moore

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.

Bobby opened the conversation by sharing his five key takeaways from the first quarter of 2023: the trucking market continues to be soft, quarterly and yearly metrics for shipments and spend both dropped for the first time in three years, the Southwest outperformed while the Midwest continued to struggle, and the Southeast saw an 8 percent increase in yearly spend despite 16 percent fewer shipments.

In this interview, Bobby was joined by Michelle Moore, Head of Supply Chain at GAF, to share and discuss the results of the Q1 2023 report with co-hosts Scott Luton and Greg White:

• Why national shipment volume being lower than spend indicates there is a capacity issue

• Signals that the drop in activity in Q1 2023 is more significant than the regular seasonal reduction U.S. Bank would expect

• How a decline in manufacturing activity is impacting capacity at the regional level

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2023 Q1 U.S. Bank Freight Payment Index: https://freight.usbank.com

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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-q1-freight-payment-index-1115