Freight TSI reading is mixed once again, reports BTS
The United States Department of Transportation's Bureau of Transportation Statistics (BTS) recently reported that its Freight Transportation Services Index (Freight TSI) was mixed in August, the most recent month for which data is available.
According to BTS officials, the Freight TSI measures the month-to-month changes in freight shipments in ton-miles, which are then 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 airfreight.
The August reading—at 134.1—slipped 0.4% from July to August, falling sequentially for the fourth consecutive month, which BTS attributed to seasonally-adjusted decreases in rail carloads, rail intermodal, airfreight, and water, while pipeline headed up and trucking remained stable. And it added that the decline in August occurred amid a backdrop of growth for other indicators.
Compared to August 2020, the Freight TSI rose 4.1%, and on a year-to-date basis, it is down 0.6% through the first eight months of 2021. When compared to the all-time low of 94.9, which occurred in April 2009, during the Great Recession, the August reading was up 41.3%, while trailing the August 2019 all-time high of 142.0 by 5.6%.
What’s more, the August reading marked the fourth straight decrease, for a cumulative 4.5%, going back to April, as well as falling for the fifth time in the last seven months. And BTS said that the August reading represents its second-lowest level going back to November 2020 and is 7.0% below the April 2020 pandemic low.
