Transportation Services Index tallied fifth-straight monthly gain in November

The Transportation Services Index (TSI) in November rose 0.7 percent from October's level to 122.2, according to the U.S. Department of Transportation's Bureau of Transportation Statistics (BTS). On a year-over-year basis, the index grew 2.9 percent.

The Freight TSI in November ratcheted up 0.8 percent from October's level to 123.2, notching a gain for the fifth-straight month. The index — which measures the output of for-hire rail, trucking, inland waterway, pipeline and air freight firms — increased 3.5 percent compared with November 2013's mark.

The amount of freight shipments in November measured by the Freight TSI reached the highest level since BTS began keeping records in 2000.

"The growth in November was led by trucking, air freight, pipelines and waterborne cargo," BTS officials said in a press release. "Employment and retail sales both increased, as did manufacturing output and total industrial production. Inventories increased to reach an historic high."

Meanwhile, the Passenger TSI in November inched up 0.3 percent from October's mark to 119.7. The measure of month-to-month changes in travel provided by airlines, local transit agencies and intercity railroads also rose 1.4 percent on a year-over-year basis.