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As an economic indicator, the Transportation Services Index (TSI) didn’t indicate the U.S. economy was in good stead in July.

The month’s index totaled 109.7, a 0.2 percent decrease compared with June’s level and the TSI’s second-straight monthly decline, according to the U.S. Department of Transportation’s Bureau of Transportation Statistics.

July’s TSI — a measure of month-to-month changes in the output of services provided by for-hire transportation industries, including rail, truck and air — also dropped 1.6 percent on a year-over-year basis.

The Freight TSI totaled 108.5 in July, decreasing 0.4 percent compared with June’s level and registering the third drop in four months. The index measures month-to-month changes in the output of services provided by for-hire railroads, truckers, airlines, inland water carriers and pipelines

July’s Freight TSI also fell 2.9 percent compared with July 2006’s level — the largest July-over-July decline since 2000.

Meanwhile, the Passenger TSI totaled 114.8 in July, increasing 0.1 percent compared with June’s level and rising 2.8 percent compared with July 2006’s index. The Passenger TSI measures month-to-month changes in the output of services provided by for-hire passenger transportation industries, including intercity rail and local transit.