WASHINGTON, D.C. – The Freight Transportation Services Index (Freight TSI) rose 0.1% in October from September, the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS) said Wednesday.
The bureau said the index has now risen for a second consecutive month. In September, the Freight TSI was up 0.8%.
The index is based on the amount of freight carried by the for-hire transportation industry.
It measures the month-to-month changes by mode of transportation in tons and ton-miles, which are combined into one index.
“The Freight TSI was almost unchanged in October, increasing 0.1% from September due to growth in water, rail intermodal, rail carload, pipeline and air freight, despite a decline in trucking,” the bureau said.
“The October increase took place against the background of largely positive results in other indicators,” it added.
From October 2019 to October 2020 the index fell 4.5% compared to a decline of 0.6% from October 2018 to October 2019 and a rise of 6.8% from October 2017 to October 2018, the bureau said.
The level of for-hire freight shipments in October measured by the Freight TSI (131.7) was 6.9% below the all-time high level of 141.5 in August 2019.
The September index was revised to 131.6 from 132.6 in last month’s release but still remains above August 2020. August was revised down slightly.
Monthly numbers for February and July were revised were revised up slightly, the bureau said.
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