The Freight Transportation Services Index (TSI), which is based on the amount of freight carried by the for-hire transportation industry, rose 1.5 percent in February from January, rising after remaining unchanged in January from December, according to the US Department of Transportation’s Bureau of Transportation Statistics’ (BTS). The February 2017 index level (126.4) was 33.5 percent above the April 2009 low during the most recent recession.
The February increase in the Freight TSI was broad based, with growth in all freight transportation modes except pipeline. The increase took place against a background of upward signals in other economic indicators. Employment, Housing Starts, and Personal Income all grew in February, and the Institute for Supply Management’s Purchasing Managers’ Index showed positive and accelerating growth. The Federal Reserve Board Industrial Production index was unchanged, with growth in manufacturing and mining offset by decline in utility output.