The US freight transportation services index (TSI), based on the amount of freight carried by the for-hire transportation industry, fell by 0.2 per cent in January from December last year, falling after a one-month increase, according to the department of transportation’s Bureau of Transportation Statistics (BTS). The index fell by 0.7 per cent year on year during the month.

The level of for-hire freight shipments in January measured by the freight TSI (137.8) was 3 per cent below the all-time high level of 142.1 in August 2019.

The December index was revised to 138.1 from 138.7 in last month's release.

The freight TSI measures the month-to-month changes in for-hire freight shipments by mode of transportation in tons and ton-miles, which are 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 air freight. The TSI is seasonally-adjusted to remove regular seasonal movement, which enables month-to-month comparisons.

The freight TSI decreased in January due to seasonally-adjusted decreases in rail inter-modal, water, air freight and pipeline, while rail carload and trucking grew.

The January freight TSI is 10.1 per cent above the pandemic low in April 2020; it has increased in 21 of the 33 months since that low. The index is now 2.4 per cent below its previous record level of 142.1 set in August 2019, despite increasing in 21 of the 41 months since that earlier peak.

Fibre2Fashion News Desk (DS)

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Jan 2023 US freight transportation services index falls by 0.7% YoY