US freight index registers second monthly drop in May
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The US Department of Transportation's Bureau of Transportation Statistics' (BTS) Freight Transportation Services Index (TSI) fell for a second consecutive month in May according a report Wednesday. The Freight TSI dropped 1.8 percent in May from April. Freight shipments measured by the index are also down 1.2 percent over the first five months of 2011. The Freight TSI measures the month-to-month changes in freight shipments in ton-miles, which are then combined into one index.
Year-on-year, freight shipments are up 1.4 percent in May and have increased in 17 of the last 25 months. However, the Freight TSI has declined in three of the past four months. Freight shipments are up 12 percent over the last 25 months.