Total For-Hire Shipments Rise Despite Trucking Decline
Freight Transportation Services Index, May 2011 - May 2016. Graphic U.S. DOT
" >Freight Transportation Services Index, May 2011 - May 2016. Graphic U.S. DOT
" width="350">A U.S. Transportation Department measure of the amount of freight carried by the nation's for-hire transportation industry rose 0.2% in May from April, the second consecutive monthly gain, and is just 1.5% below the all-time high level hit in December 2014.
In figures released Wednesday, The Freight Transportation Services Index (TSI) moved up to a reading of 121.8, it highest level since January. Also, the April index was revised upward to 121.5 from 121.1 while the March index was revised higher to 119.7 from 119.5 in last month's release.
The combined increase of 1.8% in the Freight TSI from March through May is the largest two-month increase since September to November 2014. Despite this improvement, May for-hire freight shipments are down 0.3% from the same month a year earlier.
The April to May Freight TSI gain was due to growth in all freight modes except trucking and air freight, according to the department.
The increase took place as the Federal Reserve Board's Industrial Production index declined by 0.4% in May, after rising by 0.6% in April. However, personal income, increased by 0.2%, led by personal consumption which increased by 0.4%, while imports of goods increased by 1.9%. Also, overall employment grew, and the ISM Manufacturing Index increased slightly, indicating accelerating manufacturing growth.
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 index measures the output of the for-hire freight transportation industry and consists of data from for-hire trucking, rail, inland waterways, pipelines and air freight.
Follow @HDTrucking on Twitter
Werner Receives Extraordinary Employer Support Award
[Business Wire] - Werner Enterprises , a premier transportation and logistics provider, recently received the Extraordinary Employer Support Award, recognizing its sustained support to the Reserve components of the United States Armed Forces.Your July 13 Pre-Trip: Face recognition software in trucking
Here are five things worth knowing today:
read more
Echo Global Logistics Earns Second Place in Annual Inbound Logistics Readers’ Choice Top 10 3PL Excellence Awards
[Marketwired] - Echo Global Logistics, Inc. , a leading provider of technology-enabled transportation management services, announced today the company ranked #2 in the 2016 Inbound Logistics Readers' Choice Top 10 3PL ...Bestpass web portal helps manage tolling, trucking data
Bestpass has launched a new web portal at my.bestpass.com to help its customers better manage their fleets, as well as to access advanced tolling and trucking analytics and reporting.
According to the company, the portal provides on-demand reporting; self-serve transponder ordering; and vehicle, license plate and transponder management. New features include:
read more
Vnomics’ True Fuel gets approval for second patent
Vnomics Corp. announced it has received notice that its second U.S. Patent for its True Fuel standalone fuel optimization solution has been approved.
read more