The US Freight Transportation Services Index (TSI), which is based on the amount of freight carried by the for-hire transportation industry, rose 0.5 percent in November from October, rising for the second consecutive month, according to the US Department of Transportation’s Bureau of Transportation Statistics’ (BTS).
The November increase was broad in terms of mode. All freight modes grew from October except for pipeline. The November rise took place in the context of mixed signals in other economic indicators that often impact transportation – employment increased by 178,000 jobs, retail sales rose by 0.1 percent, and personal income grew by less than 0.1 percent, while the Federal Reserve Board Industrial Production index declined by 0.4 percent, and housing starts declined by 4.7 percent from October.
The November increase was broad in terms of mode. All freight modes grew from October except for pipeline. The November rise took place in the context of mixed signals in other economic indicators that often impact transportation – employment increased by 178,000 jobs, retail sales rose by 0.1 percent, and personal income grew by less than 0.1 percent, while the Federal Reserve Board Industrial Production index declined by 0.4 percent, and housing starts declined by 4.7 percent from October.
The 0.5 percent Freight TSI rise in November combined with the October increase of 1.2 percent brought the index to 1.7 percent above its September level, the low-point since March. The November level was still 1.2 percent below its record high of 124.7 in July 2016. In the last 12 months the index rose in eight months and declined in four months, for a total increase of 2.0 percent. The November level was the second highest level the Freight TSI reached since December 2014. The index has risen 30.1 percent since the low of 94.7 in April 2009.
For-hire freight shipments measured by the index were up 1.5 percent in November compared to the end of 2015.