For-hire freight continues to grow in U.S.

For-hire freight shipments hit near record levels in the U.S. this September, with the Freight Transportation Services Index (TSI) rising 0.3% over August and hitting numbers 4.8% higher than September 2021. The measure from the U.S. Department of Transportation's Bureau of Transportation Statistics is based on the amount of freight carried by the for-hire transportation industry.

This includes for-hire truck fleets, railroads, inland waterways, pipelines and air freight.

(Source: Bureau of Transportation Statistics)

The index reading of 142 was just 0.1% lower than the all-time record of 142.1 in August 2019. Related records have been tracked since 2000. The Freight TSI measures month-to-month changes by mode of transportation in tons and ton-miles, leading to the single measure.

It was the 11th month-over-month increase in 13 months, and the index has increased in 20 of 29 months since hitting a pandemic-related low in April 2020.