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Sunday, June 23, 2024

Index points to largest freight tonnage decrease since January 2014

According to the Bureau of Transportation Statistics of the U.S. Department of Transportation, the Freight Transportation Services Index for August decreased by 1.8 percent to 122.3. July’s TSI replaced the former all-time high of 123.6 set in December 2014.

The August index is 29 percent above the low set during the recession in June 2009. TSI records began in 2000.

Trucking freight went down relatively sharply to 136.5 from 140.8, a decrease of more than 3 percent. However, numbers from the American Trucking Associations reveal a tonnage increase of 5.7 percent in August to 141.8 from 134.2 in July. ATA calculates the tonnage index based on surveys of its membership.

According to the DOT, TSI’s fall lines up with declines in the mining and manufacturing sectors. The Federal Reserve Board Industrial Production index fell 0.4 percent in August.

August’s freight TSI is the largest monthly decrease since January 2014 and the first decline after four consecutive monthly increases.