December Freight Transportation Services Index Shows Improvement
For hire freight from trucking, pipeline, rail and water increased 1% in December from the month before, marking the third consecutive monthly gain.
The December Freight Transportation Services Index, at 124.7, was also high enough that it tied the all-time high level from July 2016. December 2016 was up 2.9% from the same month in 2015.
The Freight TSI measures the month-to-month changes in for-hire freight shipments by mode of transportation in tons and ton-miles, which are combined into one index and includes the output from trucking, rail, inland waterways, pipelines and air freight.
According to the Department of Transportation, the rise was due to an increase in industrial production along with an increase in spending and income.
Overall, the Freight TSI has increased steadily in recent years, from the April 2009 low of 94.7.