The Bureau of Transportation Statistics, a branch of the U.S. Department of Transportation, published its latest Freight Transportation Services Index (TSI) Wednesday to show freight rates for October 2015.
The Freight TSI is calculated by how many U.S. freight transports there are within the for-hire transportation industry. Comparing September to October, there was a 0.4 percent increase in the quantity of freight transportation. This is encouraging as September showed a significant decline in rates.
For October 2015, the index level amounted to 123.2. This is 30.1 percent more than the all-time low from the latest recession, which was in April 2009. This figure is also 0.2 percent less than the record high that was recorded in November 2014 as 123.5.
The purpose of the Freight TSI is to study the changes that occur from month to month within the freight industry. These changes can include shipments that are carried in tons as well as ton miles. All of this data is combined in a single index.
The Freight TSI also includes the output specifically from the for-hire freight transportation industry. The data that is gathered is taken from rail, for-hire trucking, pipelines, inland waterways and air freight.
The index for September has been altered from 123.4 to 122.7. The figures for June, July and August were altered only slightly.
