The Freight Transportation Services Index (TSI), which is based on the amount of freight carried by the US for-hire transportation industry, rose 1.0 percent in December from November, rising for the third consecutive month, according to the US Department of Transportation’s Bureau of Transportation Statistics’ (BTS). The December 2016 index level (124.7) was 31.7 percent above the April 2009 low during the most recent recession.
The December Freight TSI grew by 1.0 percent from the previous month due to increases in trucking, pipeline, rail intermodal, and water, while air freight and rail carloads declined. The December increase was driven by economic growth. The Federal Reserve Board Industrial Production index rose by 0.8 percent in December, with growth in both manufacturing and utilities, even as mining production declined. Employment and Personal Income both grew in December, though housing starts were off by 0.2 percent.