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DOT: Freight shipments on the rise
Cargo shipments in the U.S. rose slightly from December to January, a report released Wednesday by the Department of Transportation showed.
The Freight Transportation Service Index (TSI), a combination of data from for-hire trucking, rail, inland waterways, pipelines and air freight carriers, increased 0.9 percent last month, according to an analysis by the DOT's Bureau of Transportation Statistics.
The data is good news for the economy, as it suggests an increase in U.S. production of goods and trade.
January marked the fourth consecutive month since September of increased freight movement, the report said. The TSI has risen 14.6 percent overall since May 2009 after declining 16.8 percent in the 16 months before that.
The TSI increased 6.4 percent in 2010, the largest annual increase in shipping since 2002, DOT said.
The full transportation service index can be viewed here.
