The official freight numbers are in from October. While the index that measures freight movement in tons and ton-miles ticked up for trucking, water and pipeline, freight shipments were down for rail and air.
According to the U.S. Department of Transportation’s Bureau of Transportation Statistics, the Freight Transportation Services Index for October increased by 0.4 percent to 123.2. October’s TSI is 0.2 percent below the all-time high of 123.5 set in November 2014.
The October index is 30.1 percent above the low during the recession in April 2009. TSI records began in 2000.
Trucking, waterborne freight and pipeline all increased in October. Rail carload, rail intermodal and air freight all decreased. TSI’s increase comes alongside increases in employment and personal income. However, there were decreases in housing starts, Federal Reserve Board Industrial Production index and the Institute for Supply Management Manufacturing Index, sending mixed signals on the economy and indicating slower growth, according to the BTS press release.
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.
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