The Department of Transportation’s freight transportation services index rose to record high in November, DOT said Jan. 9.
The freight TSI increased 1.2% from October to an all-time high of 116.5, DOT’s Bureau of Transportation Statistics said in its monthly report.
The index rose 5.2% in November year-over-year, DOT said.
DOT uses a baseline reading of 100 from the year 2000.
“Growth in tonnage-intensive industries such as heavy construction, and oil and gas fracking produced an increase in truck tonnage. Both trucking and rail benefited from growing auto production,” according to the report.
“The 1.2% increase in November freight transportation after a small dip in October was a return to the growth that has characterized the second half of 2013. The November rise was a result of increases in all modes except pipeline,” BTS said in its report.
October’s reading was revised to 115.1 from 114.3.
The index remained above its 2012 range for the 11th straight month. Every month in 2013 has exceeded 2012’s high point of 112.3, reached in December.
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.