The Freight Transportation Services Index (TSI), which is based on the amount of freight carried by the for-hire transportation industry, fell 1.8 percent in April from March, declining after an increase in the previous month, according to the US Department of Transportation’s Bureau of Transportation Statistics’ (BTS). The April 2015 index level (120.4) was 27.2 percent above the April 2009 low during the most recent recession.
The level of freight shipments in April measured by the Freight TSI (120.4) was 2.3 percent below the all-time high level of 123.2 in November 2014. BTS’ TSI records begin in 2000.
Large declines in trucking and pipeline, coupled with smaller declines in rail carloads and rail intermodal resulted in the decline in the overall freight index in April, despite increases in air freight and waterborne. The Federal Reserve Board Industrial Production index declined in April, as did manufacturers’ shipments and new orders.
In April, the Freight TSI reversed its March gain and returned to a level slightly lower than in February 2015. The April decrease was the largest monthly decrease since January 2014 and brought the index to its lowest level since June 2014. Since the beginning of 2015, the index has had alternating months of increases and decreases that have left it 1.7 percent lower than it was at the end of 2014. After dipping to 94.6 in April 2009, the index rose 27.2 percent in the succeeding 72 months.