DEFINITION of 'Cass Freight Index'
A measurement of the monthly aggregate shipment of freight that is processed by Cass Information Systems. The Cass Freight Index ultimately serves as one of the national indicators of shipping activity. The index itself encompasses over 1,200 divisions of over 400 unique types of companies and manufacturers.
BREAKING DOWN 'Cass Freight Index'
The Cass Freight Index is materially comprised of the actual freight expenses of the underlying companies in the index. The index was created in January of 1990 and uses that month as its base month for computations. Monthly volume is always adjusted to assume a 21-workday month.