The Freight Transportation Services Index (TSI), which is based on the amount of freight carried by the for-hire transportation industry, reached an all-time monthly high in December, 0.7 percent higher than the previous highest level reached in November, according to the US Department of Transportation’s Bureau of Transportation Statistics’ (BTS). The December 2017 index level (132.0) was 39.4 percent above the April 2009 low during the most recent recession.
The level of for-hire freight shipments in December measured by the Freight TSI (132.0) reached all all-time high for the third consecutive month. For the year, the index was 6.1 percent higher in December 2017 than in December 2016, the largest annual gain since 2010.
The December increase in the Freight TSI was broad based, with increases in Rail Carloads, Rail Intermodal, Trucking, and Water, while Pipeline and Air Freight declined. The TSI increase took place against a background of mostly positive results for other indicators. The Federal Reserve Board Industrial Production index rose by 0.9 percent in December, with significant increases in mining and utilities and a small increase in all manufacturing. Employment rose, Personal income grew and the Institute for Supply Management Manufacturing index rose to 59.7, indicating accelerating growth. Meanwhile, housing starts fell by 8.2 percent.