Analysis of the Q2 2026 U.S. Bank Freight Payment Index

Soft freight demand would normally suggest plenty of available trucking capacity. Q2 2026 told a different story.
 

In this episode of Supply Chain Now, Scott W. Luton is joined by Karin Bursa, Bobby Holland, Director of Freight Business Analytics at U.S. Bank, and Dr. Jason Miller, Eli Broad Endowed Professor of Supply Chain Management at Michigan State University, to unpack the latest U.S. Bank Freight Payment Index. They examine why shipments remained subdued while shipper spending climbed sharply, including a nearly 28% year-over-year national increase in spending.
 

The conversation covers regional freight conditions, tightening capacity, housing weakness, import activity, fuel costs, and the surge in physical infrastructure supporting AI and data centers. Bobby and Jason also share what supply chain leaders should watch as the market moves through the second half of 2026.
 

Jump into the conversation:

(00:00) Intro
(06:51) The central theme of the Q2 2026 Freight Payment Index

(09:29) How the Freight Payment Index works

(11:29) National freight market outlook

(16:40) West region: Strongest annual growth

(20:49) Southwest: The largest volume-spending disconnect

(23:59) Midwest: Data centers offset softer freight demand

(27:18) Housing market headwinds

(30:10) Northeast: Flat volume and rising spending

(33:41) Southeast: Data centers drive freight growth

(37:14) AI’s rapidly expanding physical supply chain

(44:42) Freight market predictions for the months ahead

(48:55) Where to find the Freight Payment Index

(50:34) Karin’s biggest takeaway for supply chain leaders
 

Additional Links & Resources:

• Connect with Dr. Jason Miller: https://www.linkedin.com/in/jason-miller-32110325/
• Connect with Bobby Holland: https://www.linkedin.com/in/bobby-holland-4a9355/
• Connect with Karin Bursa: https://www.linkedin.com/in/karinbursa/
• Learn more about Eli Broad College of Business: https://broad.msu.edu/
• Learn more about U.S. Bank: https://www.usbank.com/index.html
• Learn more about U.S. Bank Freight Payment Index: https://www.usbank.com/corporate-and-commercial-banking/industry-expertise/transportation/freight-payment-insights.html
• Learn more about our hosts: https://supplychainnow.com/about
• Learn more about Supply Chain Now: https://supplychainnow.com
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This episode was hosted by Scott Luton and Karin Bursa and produced by Trisha Cordes, Joshua Miranda, and Amanda Luton. For additional information, please visit our dedicated show page at: https://supplychainnow.com/analysis-q2-2026-us-bank-freight-payment-index-1627

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