Larry Smith/Trans Pixs
The Department of Transportation’s freight transportation services index rose 1.3% in January from the same month last year, DOT said.
The freight TSI rose 1.2% in January from December to a reading of 111.3, the third straight monthly increase, with trucking showing large gains, DOT said Wednesday.
The index was 2.4% below the 114 reading of December 2011, which was the highest in the index’s 22-year history. DOT uses a baseline reading of 100 from the year 2000.
The gain was due in part to wholesale inventory growth, which rose 1.2% in January, DOT said. The index has improved in 30 of the past 45 months, gaining 18% during that time.
The freight TSI is a seasonally adjusted monthly index measuring the output of services provided by the for-hire transportation industries, including railroad, air, truck, inland waterways, pipeline and local transit.