The U.S. truck freight market showed modest improvement in shipment volumes during the fourth quarter of 2025 and tightening capacity drove shipper spending to its highest level since early 2024, according to the latest U.S. Bank Freight Payment Index. National shipments rose 1.5% from the previous quarter, while spending jumped 4.6%.
"The capacity story is the defining theme of Q4. Shippers paid significantly more to move slightly more freight, clear evidence that available truck capacity continues to tighten," said Bobby Holland, U.S. Bank director of freight business analytics. "Between fleet exits and carriers reducing their rosters, the industry is feeling the effects of prolonged contraction."
Compared with Q4 2024, national shipment volumes fell 4.9%—the 15th consecutive quarter of year-over-year decline. However, this marked the smallest year-over-year drop since Q2 2022. For 2025 overall, freight levels declined 9.9% from 2024, though this was less than half the 20.4% annual decline in 2024.
Shipper spending rose 5.2% year-over-year in Q4—the first year-over-year increase in three years. Over the past three quarters, spending has increased 7.9% while shipments rose just 1.0%, highlighting the rate pressure shippers are experiencing. The spending increase cannot be attributed to diesel prices, which averaged 5.2 cents per gallon lower than Q3, according to Department of Energy data.
Regional performance was mixed for shipments but showed broad-based spending increases. The Southwest, Midwest, and Northeast posted sequential shipment gains ranging from 3.5% to 5.4%, while the West and Southeast contracted. All five regions recorded sequential spending increases, and four of five saw year-over-year spending gains. another indication of tightening capacity.
"Freight market conditions remained challenging in Q4, with manufacturing, construction, and consumer spending all showing strain," said Bob Costello, senior vice president and chief economist at the American Trucking Associations. "The capacity adjustments we're seeing across the industry are a natural response to these prolonged demand headwinds."
The U.S. Bank Freight Payment Index measures quantitative changes in freight shipments and spend activity based on data from transactions processed through the U.S. Bank Freight Payment platform. U.S. Bank Freight Payment processes an industry-leading $46 billion in freight payments annually for shippers and carriers across the U.S. The Index insights are provided to U.S. Bank customers to help them make business decisions and discover new opportunities.
Texas college expands CDL program
San Jacinto College in Texas recently announced it is expanding access to workforce training through a new partnership with FleetForce, which will support the delivery of its commercial driver’s license program.
The partnership with FleetForce reflects the college’s continued commitment to providing industry-aligned training that leads directly to employment in essential fields across the region. Commercial truck driving plays a critical role in supporting supply chains, infrastructure, and economic growth, and San Jacinto College is focused on preparing students with the skills and credentials needed to enter the workforce quickly and successfully.
FleetForce was selected based on its experience working with community colleges and workforce agencies. Through this partnership, San Jacinto College will strengthen its ability to connect students with funding opportunities, career pathways, and employer-driven training models.
“This partnership allows San Jacinto College to continue delivering high-quality, industry-aligned education for our region while being thoughtful stewards of college resources,” said Dr. Sallie Kay Janes, associate vice chancellor of continuing and professional development at San Jacinto College. “By working with FleetForce, we can expand access to CDL training, respond quickly to workforce needs, and do so in a way that helps reduce operational costs while maintaining the level of excellence our students and community expect.”
The CDL truck driving program will provide students with multiple avenues for access and affordability, including alignment with workforce funding sources and career pathway programs that support adult learners, incumbent workers, and individuals transitioning into new careers. The partnership also expands opportunities for veterans and transitioning service members seeking to enter the commercial driving profession
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