Freight Transportation Index Rises to Record High for Second Month
The Department of Transportation’s freight transportation services index rose to an all-time high for a second consecutive month, DOT announced Nov. 13.
The index increased 4.2% to 121.5 in September from the same time last year, the highest level since records began in 2000. The previous record of 121.3 was set in August.
The freight TSI increased 0.3% from August, DOT’s Bureau of Transportation Statistics said in its monthly report.
DOT uses a baseline reading of 100 from the year 2000.
Freight for truck, water, pipeline and air increased, but rail was unchanged, BTS said.
“The increase was a return to growth after a decline in June. Third-quarter 2014 also represented a return to growth after two quarters of modest quarterly declines. The quarterly growth [2.3%] was the most rapid since the fourth quarter of 2011,” DOT wrote in the report.
Year-to-date, freight shipments are up 2.1% compared with the same period last year.
“During the month, several other indicators of related parts of the economy that often impact transportation increased. In particular, industrial production grew 1% after several months of slow or negative growth. Manufacturers’ shipments and inventories both increased — inventories have increased for 22 of 23 months to reach an historic high,” the report said.
The freight 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.
