The Freight Transportation Services Index (TSI), which is based on the amount of freight carried by the for-hire transportation industry, fell 0.5 percent in February from January, falling after a one month increase according to the U.S. Department of Transportation’s Bureau of Transportation Statistics’ (BTS).
The February decline in Freight TSI was driven by decreases in rail carloads, rail intermodal, and water, while air freight, pipeline and trucking grew. The TSI decrease took place against a background of weak results for other indicators. The Federal Reserve Board Industrial Production index increased by 0.1% in February, with a decrease in manufacturing and increases in mining and utilities. Personal income increased by 0.2%, while housing starts declined by 8.7%. The Institute for Supply Management Manufacturing index declined to 54.2, indicating continued but decelerating growth.
The BTS’ TSI measures the month-to-month changes in for-hire freight shipments by mode of transportation in tons and ton-miles, which are combined into one index. The index measures the output of the for-hire freight transportation industry and consists of data from for-hire trucking, rail, inland waterways, pipelines and air freight.
Source: BTS< Return