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Free AccessANALYSIS: BOT/DOT Stats Show Railways Top Freight Mode
--Eye on Freight TSI For Economic Turns
By Vicki Schmelzer
NEW YORK (MNI) - Railways remain the top method of moving freight across
the United States, with volumes well above trucking and pipelines, according to
a Bureau of Transportation Statistics' report released Monday, by the U.S.
Department of Transportation.
From June 2009 to December 2016, railway freight traffic rose 50.6%, the
report said.
"The seasonally-adjusted indexed modal data that comprises BTS' Freight
Transportation Services Index (TSI) shows that rail intermodal was followed by
trucking at 37.8%, pipeline at 29.6%, waterborne at 23.2%, and air freight at
21.7%. During this period the freight TSI rose 29.7%," the DOT said.
"The sole exception was rail carloads which declined 0.8%," the DOT said
noting that this went hand in hand with a decline in coal shipments.
"Total coal shipped by Class I railroads peaked in 2008 at 878.6 million
tons, dropped to 787.6 in 2009, and continued to fall to 638.1 million tons in
2015," the BTS said.
As background, the BTS's Freight TSI "measures the month-to-month changes
in for-hire freight shipments by mode of transportation in tons and ton-miles,
which are combined into one index."
"The index measures the output of the for-hire freight transportation
industry and consists of data from for-hire trucking, rail, inland waterways,
pipelines and air freight" and "is seasonally-adjusted to remove regular seasons
from month-to-month comparisons," the BTS said.
The BTS keeps a close eye on the Freight TSI because the index "tends to
turn in advance of slowdowns and accelerations in economic growth."
As example, the BTA pointed to the two most recent U.S. economic
accelerations, from June 2009 to December 2012 and then from July 2013 to
December 2014.
The Freight TSI reached a peak in December 2011 of 115.1 "and turned
downwards - 12 months in advance of an economic deceleration that began in
December 2012," the BTS said.
In October 2012, the freight TSI troughed at 110.2, "before the growth
cycle peaked in December 2012 and turned downwards (decelerated)," the report
said.
"Historically, the freight TSI has not hit a trough and turned upwards
before the onset of an economic deceleration," the BTS noted.
The Freight TSI moved higher in 2013 and peaked in November 2014 at 123.4.
The index subsequently turned down at the same time as the growth cycle. The
index bottomed at 120.3 in March 2016, before firming in fits and starts into
year-end.
The BTS latest Freight TSI was 126.8 for May 2017, a new high for the
series, available since 2000.
--MNI New York Bureau; tel: +1 212-669-6438; email: vicki.schmelzer@marketnews.com
[TOPICS: M$U$$$,M$$FX$,MN$FX$]
To read the full story
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Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.