WASHINGTON — The Freight Transportation Services Index (TSI) rose 0.3 percent in February from its January level, rising for the second consecutive month, the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS) reported Wednesday.
The Freight TSI index has risen 3.6 percent over the last nine months, starting in June, after declining 15.3 percent in the previous 10 months beginning in August 2008, BTS, a part of the Research and Innovative Technology Administration, reported.
The index has increased in seven of the last nine months, and started 2010 with an increase of 0.7 percent in the first two months.
The Freight TSI measures the month-to-month changes in freight shipments in ton-miles, which are then combined into one index. The index measures the output of the for-hire freight transportation industry and consists of data from for-hire trucking, rail, inland waterways, pipelines and air freight.
The February Freight TSI of 96.9 is a 3.6 percent increase from the recent low of 93.5 reached in May 2009. In May, the index was at its lowest level since June 1997. The Freight TSI is down 14.1 percent from its historic peak of 112.9 reached in May 2006.
The February Freight TSI of 96.9 is the lowest for February since February 1997 when it was 91.3. With a 2.0 percent decline from February 2009 to February 2010 following an 11.2 percent decline from February 2008 to February 2009, the index has declined 12.9 percent in two years.
The freight index is down 13.3 percent in the five years from February 2005. The index is down 6.8 percent in the 10 years from February 2000.
The TSI is a seasonally adjusted index that measures changes from the monthly average of the base year of 2000. It includes historic data from 1990 to the present. Release of the March index is scheduled for May 12.
Kevin Jones of The Trucker staff can be reached for comment at firstname.lastname@example.org.
Follow The Trucker on Twitter at www.twitter.com/truckertalk