SPY & Freight Transportation Services Index
An index measuring the month-to-month changes in output of services provided by the for-hire freight transportation industry.
SPY Price
Freight Transportation Services Index
Index 2000=100, with 12-month moving average
Year-over-Year Change
What It Measures
The Freight Transportation Services Index (Freight TSI) measures the output of the for-hire freight transportation sector. It is a monthly index that reflects the movement of goods across the U.S. economy. The index combines data from multiple modes of freight transportation: - **Trucking** (largest component): For-hire truck tonnage - **Rail**: Intermodal and carload freight - **Water**: Inland waterways and coastal shipping - **Air Freight**: Cargo ton-miles - **Pipeline**: Oil and petroleum products The index uses a chain-weighted formula with 2000 as the base year (2000 = 100). It is seasonally adjusted to remove predictable seasonal patterns.
Why It Matters
**Leading Economic Indicator**: Freight volumes often anticipate broader economic trends, as goods must be transported before they can be sold or used in production. **Supply Chain Health**: The index provides insight into the overall health of the logistics and supply chain sector, which is critical for economic activity. **GDP Component**: Freight transportation is a direct input to GDP through the transportation and warehousing sector. **Business Cycle Correlation**: The Freight TSI tends to peak before recessions and trough during economic downturns, making it useful for cycle analysis. **Official Government Statistic**: As a Bureau of Transportation Statistics product, it is an authoritative and consistent measure of freight activity.
Key Levels
Data Sources
SPY: S&P 500 ETF daily OHLCV data (1993-02-02 to 2026-02-13)
Freight TSI: TSIFRGHT - Freight Transportation Services Index from U.S. Bureau of Transportation Statistics
Units: Index 2000=100, Seasonally Adjusted, Monthly