U.S. Department of Transportation unveiled on Thursday the Transportation Services Index (TSI), a new economic indicator intended to measure the performance of the economy as reflected in the movement of passengers and freight.
The new index will focus on the movement of freight and passenger traffic by land, water and air.
It is expected that the TSI will provide a reliable benchmark on the overall strength of the American economy.
The TSI will use monthly data on freight movement and passenger travel in the for-hire transportation sector.
The passenger transportation measures will be local transit, intercity passenger rail and air passenger information.
The first TSI numbers will be released in March.
The transportation sector accounts for 11% of the U.S. Gross Domestic Product and employs over 11 million Americans.