Thursday, August 9, 2012
U.S. freight index fell 0.1 percent in June
For-hire freight volume dipped 0.1 percent in June compared to May, according to the U.S. Department of Transportation's Bureau of Transportation Statistics' Freight Transportation Services Index.
The bright spot was the June 2012 index level of 109.5 was 16.1 percent above the April 2009 low during the recession, although 3.9 percent below the all-time high of 114.0 in December 2011, according to the BTS report.
"The Freight TSI remained stable in the second quarter of 2012, continuing a pattern of little change since January. This appears to reflect the rate of growth in the general economy," the BTS report said.
Gross Domestic Product growth in the U.S. slowed to 1.5 percent in the second quarter and a revised 2 percent in first quarter of 2012, from 3 percent in fourth quarter of 2011, according to the Bureau of Economic Analysis.
The TSI revealed rail and truck freight growth in June, but was offset by declines other modes, most notably waterborne freight, which the BTS report could be attributed in part to the impact of low water conditions on the Mississippi River system.
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