Long-Term Growth in Freight Transportation Services : Methods and Findings
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2017-11-22
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Alternative Title:Long-Term Growth in Freight Transportation Services : Methods and Findings : Technical Note
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TRIS Online Accession Number:01655357
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Edition:Technical Note
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Abstract:The economic recovery following the Great Recession through the end of 2016 was slow but steady. That same pattern was evident in transportation services where the Transportation Services Index (TSI), which comprises both passenger and freight indexes, once again rose above the long-term growth trend, suggesting that TSI continues to broadly mirror growth in the economy. The freight TSI began to rise quickly after turning in May 2009 (one month ahead of the economic acceleration following the recession) but has since slowed. Rail ton miles and truck tonnage have not regained their earlier growth rate. This failure to regain the pace of pre-recession growth is more dramatic for rail traffic than it is for truck tonnage. The purpose of this paper is to explain the method for estimating growth in the TSI above the long-term trend and to show in detail how that growth changed from the period before the recession to afterwards.
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