November 2025 Freight TSI Up 1.2% YoY; Market Signals Steady Demand

S. 2% month-over-month increase in November 2025, matching the same year-over-year gain versus November 2024. This dual-growth metric indicates that freight market activity has stabilized at current levels without dramatic acceleration or contraction.

The TSI, a key barometer of freight demand across trucking, rail, and intermodal segments, reflects steady underlying economic activity and shipper confidence. For supply chain professionals, this consistency is moderately encouraging. 2% increase both sequentially and annually suggests the freight market has moved past the volatility of prior years and has settled into a normalized demand pattern.

However, the relatively modest growth rate—neither strong nor weak—implies that shippers should continue cautious capacity planning and avoid aggressive rate negotiations, as carriers maintain steady pricing power. The implications for logistics networks are twofold: (1) carriers can rely on stable utilization rates without aggressive price wars, and (2) shippers should expect sustained but not premium service levels. This environment favors predictable operations over speculative positioning, making it an ideal time to audit transportation contracts, consolidate carrier networks, and optimize modal selection based on historical performance rather than chasing market swings.