WASHINGTON — The Freight Transportation Services Index (TSI), which is based on the amount of freight carried by the for-hire transportation industry, fell 0.7 percent in February from January after two months of growth, according to the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS). The February 2016 index level of 122.2 was 29.0 percent above the April 2009 low during the most recent recession.
The February Freight TSI was 1.2 percent below the all-time high level of 123.7 in November 2014. Freight shipments measured by the index were up 0.6 percent in February compared to the end of 2015.
The January index was revised to 123.1 from 122.2 in last month’s release.
The February Freight TSI decrease of 0.7 percent from January was due to substantial declines in trucking and pipeline, and a smaller decrease in rail intermodal, BTS reported.
The Freight TSI measures the month-to-month changes in freight shipments by mode of transportation in tons and ton-miles, which are 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 ISM Manufacturing Index, though it increased, was again below 50, indicating declining manufacturing activity. Value of manufacturers’ inventories decreased again in January, though inventory to sales ratios remained high, BTS said.
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