WASHINGTON, Dec 9 (Reuters) - The U.S. Freight Transportation Index fell in October to its lowest level for October since 1996, as industry shipments decreased for two months in a row, the Transportation Department said on Wednesday.
Shipments suffered their biggest October year-on-year decline, falling 10.5 percent, since the department began calculating the index 20 years ago.
The Freight TSI measures the month-to-month changes in freight shipments in ton-miles, which are then 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. A ton-mile represents one ton of freight hauled one mile.
(Reporting by Jasmin Melvin; Editing by Neil Stempleman) (jasmin.melvin@thomsonreuters.com; +1 202 354 5880) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Shipments suffered their biggest October year-on-year decline, falling 10.5 percent, since the department began calculating the index 20 years ago.
The Freight TSI measures the month-to-month changes in freight shipments in ton-miles, which are then 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. A ton-mile represents one ton of freight hauled one mile.
(Reporting by Jasmin Melvin; Editing by Neil Stempleman) (jasmin.melvin@thomsonreuters.com; +1 202 354 5880) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2009 AFX News
