DOT Freight Transport Index Drops 0.6% in October
The Department of Transportation’s freight transportation services index fell 0.6% in October from a year ago, leaving it at its lowest level for the month of October in five years.
The freight TSI rose 1% from September to 109.1 and the index is up 0.7% for the first 10 months of this year, DOT said Wednesday.
The index has dropped 4.3% in the past two months, dropping to a level equal to the four-year low set in September 2007.
The October month-to-month increase followed a two-month decline of 4.3% in August and September that was the freight index’s largest two month drop in more than eight years.
The TSI is a seasonally adjusted monthly index measuring the output of services provided by the for-hire transportation industries, including railroad, air, truck, inland waterways, pipeline and local transit.
