Data released Thursday by Cass Information Systems (NASDAQ: CASS) highlighted advances in the company’s shipments and expenditures indexes during January. The shipments component increased 8.6% year-over-year with the expenditures index surging 19.5%.
The data showed shipments improved 3% from December on a seasonally adjusted basis, which was the largest move since September.
“This acceleration takes us another step closer to the strong growth environment which we expect to continue in 2021, due in no small part to easy comparisons,” according to the report’s author, ACT Research’s Tim Denoyer.
Compared to January 2019, the shipments index is still 1.6% lower.