Most recent Freight TSI reading, for July, is mixed, 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 July, 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 July reading—at 134.5—fell 1.6% from July, seeing a decline for the third consecutive month. And compared to July 2020, it eked out a 0.5% gain.

When compared to the all-time high reading, of 141.9 recorded in August 2019, the July 2021 Freight TSI came in 5.2% below that level.

BTS said that the 1.6% sequential June to July decline was due to seasonally-adjusted decreases for rail carloads, rail intermodal, trucking, water, and pipeline, with the decreases taking place amid mixed results for other key economic indicators.

Over the last three months through July, the Freight TSI has fallen a cumulative 2.3% going back to April, its fourth decrease over the previous seven months. What’s more, BTS said that the July Freight TSI is at its lowest level going back to November 2020 and 7.3% above the April 2020 pandemic low.

On a year-to-date basis through July, the Freight TSI is down 0.3% compared to the same period in 2020.