Friday, September 17, 2010

U.S. Freight Transport Service Index up in July

The U.S. Freight Transportation Services Index (TSI) rose 0.4 percent in July from June, rising for the second consecutive month, according to a report by the U.S. Department of Transportation's Bureau of Transportation Statistics (BTS).

BTS reported that the Freight TSI has risen 5.0 percent over the last 14 months, starting in June 2009, after declining 15.3 percent in the previous 10 months beginning in August 2008.

The index has increased in 11 of the last 14 months. Through the first seven months of 2010, the index declined 1.3 percent.

The Freight TSI measures the month-to-month changes in freight shipments in ton-miles, which are then combined into one index. It measures the output of the for-hire freight transportation industry and consists of data from for-hire trucking, rail, inland waterways, pipelines and air freight.

The July Freight TSI of 98.2 is a 5.0 percent increase from the recent low of 93.5 reached in May 2009. In May 2009, the index was at its lowest level since June 1997. The July Freight TSI is down 13.0 percent from its historic peak of 112.9 reached in May 2006.

Although the index rose 2.5 percent from July 2009 to July 2010, it remains below the level of every other July since 1997 when it was 94.8.

January 2010 was the first month since July 2008 in which the Freight TSI exceeded the level of the same month of the previous year. The index has exceeded the previous year's level every month since then but still remains below the level of recent earlier years.

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