THE US Freight Transportation Services Index for each mode of transport declined in June driven down by a reduction in construction spending.
The index, which measures the amount of freight carried by the industry, decreased 0.9 per cent in June after four months of increases. However, the June result came in just under the single highest month on record.
June shipments rose 2.8 per cent, year on year, according to data from the US Department of Transportation, reported American Shipper.
"Construction spending declined although there was growth in several other economic indicators," according to an analysis of the results provided by the DOT.
"Despite the decrease, the freight index was higher in each month of the second quarter of 2014 than it was in any month of the first quarter of 2014, when weather impacted transportation."
MARKETS
21 August 2014 - 21:30
US freight index falls 0.9pc in June, but still second highest posted
THE US Freight Transportation Services Index for each mode of transport declined in June driven down by a reduction in construction spending.
MARKETS
21 August 2014 - 21:30
US freight index falls 0.9pc in June, but still second highest posted
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