WASHINGTON — The July Freight Transportation Services Index (TSI), which is based on the amount of freight carried by the for-hire transportation industry, rose 1.6 percent from June to 124.6, an all-time high. The increase was the fourth consecutive monthly rise, according to the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS). Freight shipments measured by the index were up 2.7 percent in July compared to the end of 2015.
The July Freight TSI increase was due to growth in trucking and rail carloads, while all other modes declined, BTS reported, adding that the July increase was driven by growth in the mining, utility and manufacturing sectors of the economy. The Federal Reserve Board Industrial Production index rose 0.7 percent in June, according to BTS. Housing starts were 2.1 percent above the June level, personal income was 0.4 percent above the previous month and employment grew by 255,000 jobs.
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.
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