The Department of Transportation said its freight transportation services index rose 2.7% in February from the same month last year.
The freight TSI rose 1.2% in February from January to a reading of 113.9, the fourth-straight monthly increase, DOT said Wednesday.
The index was 1.1% below the 115.2 upwardly revised 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.
DOT said it has refined the transportation services index methodology and is revising previously released numbers.
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.