October 11, 2024
The Freight Transportation Services Index (TSI), which is based on the amount of freight carried by the for-hire transportation industry, rose 1.1% in August from July, rising for the first month this quarter, according to the U.S. Department of Transportation Bureau of Transportation Statistics (BTS). From August 2023 to August 2024 the index rose 1.0%.
The Freight TSI increased in August due to seasonally adjusted increases in water, rail carload, rail intermodal, trucking, and air freight while pipeline declined.
The August increase came in the context of growth in several other indicators. The Federal Reserve Board Industrial Production (IP) Index grew by 0.8% in August, reflecting growth of 0.9% in manufacturing and 0.8% in mining while utilities were unchanged. Housing starts were up 9.6% and Personal Income increased by 0.2%.