Freight TSI stops falling for fourth month in August

THE Freight Transportation Services Index (TSI) in the United States rose by 0.7 per cent to 96.2 in August, according to data provided by the US Department of Transportation (DOT), marking a fourth month without a decline.

The upswing comes after the TSI fell by 4.2 per cent in the first eight months of the year, which the Bureau of Transportation Statistics describes as being the biggest decrease in the last decade.

It notes that the index grew by 0.5 per cent in May, remained flat in June, and increased by 1.6 per cent in July. However, in April the index was at 93.6, which is said to be its lowest level since June 1997.

"The continued rise of the freight transportation service index is evidence that America is moving towards economic recovery. The impact of the American Recovery and Reinvestment Act and other actions by this administration are only beginning to be felt around the nation, but economic data like this should give us hope that our worst days are behind us," said Transportation Secretary Ray LaHood.

The Freight TSI records the month-to-month fluctuations in freight shipments of the for-hire freight transportation industry and comprises data from for-hire trucking, rail, inland waterways, pipelines and air freight.

Year-on-year, the August Freight TSI of 96.2 is 10.9 per cent lower than the Freight TSI for August 2008, representing "the largest August-to-August decline in the 20 years for which the TSI is calculated," the report added.

(Source: www.schednet.com)