The Freight Transportation Companies Index (Freight TSI) fell 0.1% in November, dropping barely after two consecutive month-to-month will increase, the U.S. Division of Transportation’s Bureau of Transportation Statistics’ (BTS) mentioned Wednesday.
From November 2019 to November 2020, the index fell 3.8% in comparison with a decline of 0.9% from November 2018 to November 2019, the bureau mentioned.
The November lower adopted two months of development, and was solely the second drop since April, leaving the index 5.6% above its April stage.
The index has elevated in 5 of the previous seven months, following three months of decline.
“TSI’s course by the pandemic has been a decline of 8.2% from January to April, a 5.7% rebound from April to July, a subsequent 1.0% decline from July to August after which a rise of 0.8% from August to November,” the bureau mentioned.
The index is predicated on the quantity of freight carried by the for-hire transportation trade.
It measures the month-to-month modifications by mode of transportation in tons and ton-miles, that are mixed into one index.
“The Freight TSI was nearly unchanged in November, reducing 0.1% from October resulting from declines in water and pipeline, regardless of development in trucking, air freight, rail carload and rail intermodal,” BTS mentioned.
“The November lower occurred in opposition to the background of combined ends in different indicators.”
The extent of for-hire freight shipments in November measured by the Freight TSI (132.7) was 6.3% beneath the all-time excessive stage of 141.6 in August 2019, the bureau mentioned.
The October index was revised to 132.8 from 131.7 in final month’s launch. Month-to-month numbers for August and September have been revised up barely.