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U.S. Bank Freight Payment Index™ Benchmarks State of Shipping IndustryU.S. Bank has launched a new barometer for assessing the nation's shipping industry. The U.S. Bank Freight Payment Index™ measures quantitative changes in shipment and spend activity, based on data from transactions processed through U.S. Bank Freight Payment. These transactions are made on behalf of clients across a range of industries, including automotive, manufacturing, food and retail. Published quarterly, the U.S. Bank Freight Payment Index includes regional and national breakdowns along with expert commentary from Bob Costello, chief economist for the American Trucking Associations (ATA). Highlights and analysis of the U.S. Bank Freight Payment Index for the third quarter include:
Regional highlights and analysis for the third quarter include: "With U.S. Bank and its customers increasingly relying on big data to discover opportunities and make decisions, leveraging our robust data to assist our clients with these insights made a lot of sense," said U.S. Bank Global Transportation General Manager John Hardin. "The relative changes in the U.S. Bank Freight Payment Index indicate trends in the transportation industry and the overall economy, which can be helpful to customers in benchmarking their performance." Though the U.S. Bank Freight Payment Index is new, its aggregated data goes back to 2010, allowing readers a sense of trend lines over time. Access to the full October quarterly report is available online at this link. A pioneer in automated freight audit and payment for 20 years, U.S. Bank Freight Payment processes around $23 billion in global freight payments annually for some of the world's largest corporations and government agencies. Through its comprehensive online solution, organizations can streamline and automate their freight audit and payment processes while obtaining the business intelligence needed to maintain a competitive supply chain. U.S. Bank Freight Payment combines transportation, logistics and supply chain expertise with the backing of one of the world's leading payment providers and the security of one of the world's most respected financial institutions. ©2017 U.S. Bank
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