The Department of Transportation’s freight transportation services index declined for a second month in a row in January, DOT said March. 12.
The freight TSI declined 2.8% to 113.6 from December’s upwardly revised record 116.8, DOT’s Bureau of Transportation Statistics said in its monthly report.
The decline marks the first time the index has fallen for two straight months since October 2012. It is at the lowest point since April 2013.
The index rose 1.3% in January year-over-year, said DOT, which uses a baseline reading of 100 from the year 2000.
“The index for each freight mode declined in January with the largest decline in trucking. These declines took place during a period of severe winter weather, which particularly hit the heavily populated parts of the country. Severe weather can affect the demand for goods to ship as well as the ability to move goods,” BTS said in its report.
December’s reading was revised from 116.5.
The freight TSI is a seasonally adjusted monthly index measuring the output of services provided by the for-hire transportation industries. They include railroad, air, truck, inland waterways, pipeline and local transit.