U.S. freight transportation index extends decline in August

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U.S. freight index August decline

Highlights

The U.S. Freight Transportation Services Index fell 0.4% in August from July and 3.0% from August 2025, reaching its lowest level since September 2021.
Declines in rail carloads, intermodal traffic, trucking, and water volumes drove the August freight downturn, while air freight and pipeline volumes increased.
BTS revised the July freight index down to 134.9 from 135.7 and scheduled the September 2026 index release for November 12, 2026.

August index movements and revision details

As reported by Bureau of Transportation Statistics, citing the U.S. Department of Transportation Bureau of Transportation Statistics, the Freight Transportation Services Index falls 0.4% in August from July and declines 3.0% from August 2025. The measure tracks the volume of freight moved by the for-hire transportation industry.

The August freight decline reflects lower rail carloads, rail intermodal traffic, trucking and water volumes, even as air freight and pipeline volumes increase. BTS says the freight index now stands at its lowest level since September 2021.

The Passenger TSI rises 0.2% in August from July after two months of decline, but remains down 0.2% from August 2025. The combined freight and passenger index falls 0.2% on the month and declines 2.0% from a year earlier.

BTS also revises prior data because concurrent seasonal analysis updates factors as new monthly figures are added. The agency revises the July freight index to 134.9 from 135.7 and the July passenger index to 127.6 from 129.3.

Signals for transport markets and next release

The passenger index increases in 2026 on gains in air and rail passenger volumes, while transit is unchanged. Even with the August increase, the passenger measure remains below its March 2026 high and stays 6.7% under the all-time peak reached in January 2020.

BTS estimates pipeline petroleum, air freight and air passenger data one month ahead of reported figures, meaning August index values for those categories are based on estimates while reported data are available through July. The agency schedules the September 2026 index for release on November 12, 2026.

Our earlier coverage on the EU move to curb rising PET plastic imports outlined how five member states urged the European Commission to consider safeguard tools to protect domestic producers. We noted that the process could lead to a formal investigation and, if pursued, to country-by-country quotas and higher tariffs on volumes exceeding set limits, adding to broader EU efforts to rebalance trade pressures.

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