The Freight Transportation Services Index (TSI), which is based on the amount of freight carried by the for-hire transportation industry, fell 0.6 percent in April from March, falling for the second consecutive month after reaching an all-time high in February, according to the US Department of Transportation’s Bureau of Transportation Statistics’ (BTS). April 2017 for-hire freight shipments were up 0.8 percent from April 2016.
The month-on-month April decrease in the Freight TSI was broad based, with declines in all freight transportation modes except air freight and trucking. The decrease took place despite growth in other economic indicators in April. The Federal Reserve Board Industrial Production index grew by 1 percent with growth in manufacturing, mining, and utilities. Employment and Personal Income both grew in April. However, Housing Starts declined, while the Institute for Supply Management’s Purchasing Managers’ Index showed positive but slowing growth.