Freight index drops
For-hire transportation freight declined 1.8 percent in May from April, falling for the second consecutive month, according to the U.S. Department of Transportation’s Bureau of Transportation Statistics’ Freight Transportation Services Index.
BTS reported that freight shipments in May measured by the Freight TSI dropped to the lowest level since November. May freight shipments rose 1.4 percent from a year earlier.
For the first five months of this year, freight shipments measured by the index were down 1.2 percent. Freight shipments have increased in 17 of the last 25 months but declined in three of the past four months.
The Freight TSI measures the month-to-month output of the for-hire freight transportation industry and consists of data from for-hire trucking, rail, inland waterways, pipelines and air freight. The seasonally adjusted index includes historic data from 1990 to the present. The baseline year is 2000.