The Freight Transportation Services Index (TSI), which is based on the amount of freight carried by the for-hire transportation industry, fell 1.5 percent in March from February, falling after reaching an all-time high in February, according to the US Department of Transportation’s Bureau of Transportation Statistics’ (BTS).
The March Freight TSI declined by 1.5 percent from the previous month due to decreases in trucking, rail carloads, rail intermodal, and water, while air freight and pipeline grew. The decline took place against a background of mixed signals in other economic indicators. Employment and personal income grew, while housing starts declined. The Federal Reserve Board Industrial Production index rose by 0.5 percent in March, but this was entirely due to growth in utilities, as manufacturing output declined.