The official freight index, which measures freight movement in tons and ton-miles, reveals August freight experienced significant gains in trucking, enough to make up for declines in water and pipeline freight to push the index to an all-time high.
Trucking freight made a giant leap for a second consecutive month, increasing to 147.9 from 143.9, a significant increase of nearly 3 percent. Numbers from the American Trucking Associations reveal a tonnage increase of a 7.1 percent in August to 149 from 139.1 in July. ATA calculates the tonnage index based on surveys of its membership.
According to the Bureau of Transportation Statistics of the U.S. Department of Transportation, the Freight Transportation Services Index for August rose 1.5 percent to 130.7. In July, the index increased by 1.4 percent, replacing an all-time high set in May.
The August index was 38 percent above the low that was set during the recession in April 2009. TSI records began in 2000.
According to the DOT, the TSI’s upward movement comes amid other positive signals elsewhere in the economy. Employment, personal income and housing starts all increased. Meanwhile, the Institute for Supply Management’s Purchasing Managers’ Index revealed accelerated growth.
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