The US Freight Transportation Services Index (TSI) rose 1.6 percent in July from June, rising for the fourth consecutive month, according to the US Department of Transportation’s Bureau of Transportation Statistics (BTS). The July 2016 index level (124.6) was 31.6 percent above the April 2009 low during the most recent recession.
The July Freight TSI increase of 1.6 percent from June was due to growth in trucking and rail carloads, while all other modes declined (data on individual modes is seasonally adjusted by BTS). The July increase was driven by growth in the mining (including oil and gas well drilling and servicing), utility and manufacturing sectors of the economy.
The Federal Reserve Board Industrial Production index rose 0.7 percent in June. Housing starts were 2.1 percent above the June level, Personal Income was 0.4 percent above the June level, and employment grew by 255,000 jobs.