George Frey/Bloomberg News
The Department of Transportation’s freight transportation services index rose 5.3% in October from the same month last year, DOT said Dec. 11.
The freight TSI declined 0.7% from September’s all-time high to a reading of 114.3, DOT’s Bureau of Transportation Statistics said in its monthly report.
DOT uses a baseline reading of 100 from the year 2000.
“During the quarter, revised gross domestic product growth of 3.6% was heavily driven by an increase in private inventories — which may have accounted for much of the TSI growth,” BTS said in its report.
“The 0.7% decrease in October freight transportation was driven by decreases in airfreight, rail carloads and particularly in trucking. The decrease follows three months of increases during the July-through- September quarter,” according to the report.