Here are some charts I created from data downloads plus an additional chart from Fred. The BTS most recent data is for October.
Truck Tonnage Index
Up, up and away.
Source: The U.S. Department of Transportation, Bureau of Transportation Statistics (BTS) calculation is from American Trucking Association Monthly Truck Tonnage Report.
The index made a new record high of 118 in October.
Rail Freight Carloads
Source: Rail freight carloads - Association of American Railroads
Seasonally-adjusted rail freight carloads - U.S. Department of Transportation, Bureau of Transportation Statistics (BTS) calculation from data collected by Association of American Railroads.
The monthly rail carloads and intermodals are estimated by dividing the weekly sum by 7 (7 days in a week) and then summing for the number of days in the month (31 days for May, 30 days for June, etc.).
Rail Freight Intermodal Traffic
Intermodal freight transport involves the transportation of freight in an intermodal container or vehicle, using multiple modes of transportation (e.g., rail, ship, and truck), without any handling of the freight itself when changing modes.
Seasonally-adjusted, intermodal traffic peaked in July of 2018. Unadjusted traffic peaked in October.
Transportation Services Index
Up, up, and away.
Source: The TSI numbers are BTS estimates.
Rail Freight Traffic vs Carloads Seasonally Adjusted
The above chart suggests decreasing dependence on rail coupled with an increasing number of intermodal shifts to some other form of transportation, most likely trucks.
The BTS data makes you think the economy is humming on all four cylinders. The DOW transportation index is another matter indeed.
The November and December BTS data might be interesting.
Mike "Mish" Shedlock