DOT Freight Transportation Services Index Up in August

The U.S. Department of Transportation freight transportation services index in August hit a record 140.6 in August, up 4.1 percent from the index in August 2018.

DOT’s Bureau of Transportation Statistics  said the previous record was 138.8 in November 2018.

The index is based on the amount of freight carried by for-hire transportation entities.

“The August Freight TSI increase was broad-based, with increases in all sectors except the rail components — carloads and intermodal,” BTS officials said in a news release. The TSI increase took place against a background of mixed results for other indicators.”

BTS officials noted that the Federal Reserve Board Industrial Production Index grew in August, with increases in mining, manufacturing and utilities. Personal income increased by 0.4 percent, while housing starts grew by 12.3 percent.

The Institute for Supply Management Manufacturing Index fell 2.1 points to 49.1, indicating contraction in the manufacturing sector.

Year to date, the for-hire freight shipments measured by the index were up 3.2 percent in August, compared to the index at 2018’s end.

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