According to the U.S. Department of Transportation’s Bureau of Transportation Statistics, the Freight Transportation Services Index for July increased by 0.9 percent to 119.6. July’s TSI increase comes after a one-month decline.
The July index is 26.5 percent above the low during the recession in April 2009 and just 0.5 percent below the all-time high (120.3) set in May 2014.
Water and pipelines were the only freight modes to experience a decline for July. Industrial production, which includes manufacturing and construction, increased. Shipments and inventories of manufactured goods also increased. Both overall employment and transportation employment went up.
Freight Transportation Services Index measures month-to-month changes in freight shipments in tons and ton-miles. This information is used to measure the output of the for-hire freight transportation industry.
Copyright © OOIDA