DOT's freight index drops in August

The freight transportation services index fell 1.9 percent in August from its July level, following four consecutive monthly increases, the U.S. Department of Transportation’s Bureau of Transportation Statistics reported Oct. 8.

The index ended August at 110.8, down from the 112.9 at the end of July. The index peaked at 113.1 in November 2005.

For the first eight months of 2008, the freight index increased 2.2 percent in the largest advance for the January to August period since 2002. In 2007, the index rose 0.1 percent in the January through August period.

Minus declines in March and August, the freight index has increased in six of the first eight months this year.

On a month-to-month comparison basis, the August index was up 1.6 percent from the August 2007 level of 109.0.

The freight index has increased 7.1 percent in five years and 10.4 percent in 10 years.

The freight TSI measures month-to-month changes in the output of services provided by the for-hire freight transportation industries. The index comprises data from for-hire trucking, rail, inland waterways, pipelines and air freight. The TSI is a seasonally adjusted index that measures changes from the monthly average of the base year of 2000. It includes historic data from 1990 to the present.

Release of the September index is scheduled for Nov. 13.