For-Hire Freight Shipments Hit New Record in August

The amount of for-hire freight in August increased for the second consecutive month, hitting a new record high, due in large part to a jump in truck shipments, according to new U.S. Transportation Department figures.

Its Freight Transportation Services Index (TSI) rose 0.2% in August from July to 123.5, beating the previous all-time high of 123.4 hit in November 2014.

The Freight TSI measures the month-to-month changes in freight shipments by mode of transportation in tons and ton-miles, which are combined into one index.

The July index was revised to 123.2 from the 122.8 reported in last month’s release. May and June also were revised upward.

Compared to August 2014, the Freight TSI is up 2.1%.

“The Freight TSI increase was narrower in terms of modes than it often has been," the DOT said in a release. "Trucking and rail intermodal showed significant gains, while rail carload, aviation freight, and pipeline decreased, and waterborne was stable. Similarly the increase occurred against a background of mixed indicators for the general economy. Employment, personal income, and housing starts all increased, while the Federal Reserve Board Industrial Production Index fell."