DOT Freight Index Hits Six-Month Low

DOT Freight Index Hits Six-Month Low

Freight carried by for-hire transportation carriers declined 1.8 percent in May from April to its lowest level since November, the Transportation Department’s Freight Transportation Services Index showed.

The Freight TSI is a seasonally adjusted index measuring ton-miles carried by for-hire trucking, rail, inland waterways, pipelines and air freight carriers.

The index was up 1.2 percent year-over year but has posted month-to-month declines in three of the last four months amid slowing demand for freight transportation.

The May index was at about the same level as October 2008. The index tumbled 15.7 percent in the 15-month span from February 2008 to May 2009 but is up 12 percent since then.

For the first five months of 2011, freight shipments measured by the index were down 1.2 percent.

-- Contact Joseph Bonney at Follow him on Twitter @josephbonney.