October saw the largest drop in 20 years for the freight transportation services index, as calculated by the Department of Transportation.
The federal agency’s Bureau of Transportation statistics reported a decline of 1.2 percent between September and October of this year, but a 10.5 plummet from last year’s October numbers. The number still is a 1 percent improvement over May’s index, which was the lowest figure since June of 1997.
Over the past 15 months, freight has registered down for 11 of those months.
The transportation service index measures monthly service activity of trucking, railway, local transit and other transportation industries. It is adjusted for seasonal factors.
Source: Etrucker.com: Freight index records big drop
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