The Freight Transportation Services Index (TSI), which is based on the amount of freight carried by the for-hire transportation industry, fell 0.4% in January from December 2024, following a marginal increase in December 2024, according to the U.S. Department of Transportation Bureau of Transportation Statistics (BTS).
The level of for-hire freight shipments in January measured by the Freight TSI (137.1) was 3% below the all-time high of 141.4 reached in August 2019.
“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,” according to the report.
Key takeaways:
- The Federal Reserve Board Industrial Production (IP) Index was up 0.5% in January, reflecting an increase of 7.2% in utilities, while manufacturing was down 0.1% and mining was down 1.2%.
- The Institute for Supply Management Manufacturing (ISM) index was up 1.7 to 50.9 indicating a return to growth. A reading above 50 indicates an expansion of U.S. manufacturing, while a reading below 50 indicates a contraction.
- The January freight index decrease was the third decrease in five months leaving the index 2.2% below its level in August 2024.
- For-hire freight shipments in January (137.1) were 44.2% higher than the low in April 2009 during the recession.
