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Good news on the economic recovery front: The Transportation Services Index (TSI) in August climbed 0.7 percent to 99.5 compared with July’s index, according to the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS).

“Economic data like this should give us hope that our worst days are behind us,” said U.S. Transportation Secretary Ray LaHood in a prepared statement.

However, August’s TSI remained well below last year’s pace, falling 9.3 percent vs. August 2008’s level.

The Freight TSI also rose 0.7 percent on a month-over-month basis to 96.2, registering a second-straight monthly increase. But the index declined 10.9 percent year over year and dropped to its lowest August level since 1997.

The Passenger TSI increased 0.8 percent from July’s level to 111.2. The index also rose 4.2 percent on a year-over-year basis.

For more BTS data on the TSIs in August and through 2009’s first eight months, follow this link.