DOT Freight Transportation Index Rises 2.7%
The Department of Transportation’s freight transportation services index rose 2.7% in MayĚýfrom the same month last year to the second-highest level on record, DOT said Wednesday.
The freight TSI rose 1.2% from April to a reading of 114.3, driven by increased shipments in trucking and rail, DOT’s Bureau of Transportation Statistics said in its monthly report.
After dipping to a reading of 94.8 in April 2009 during the recession, the index has jumped 20.6% in the subsequent 49 months. DOT uses a baseline reading of 100 from the year 2000.
The freight TSI is a seasonally adjusted monthly index measuring the output of services provided by the for-hire transportation industries, including railroad, air, truck, inland waterways, pipeline and local transit.