Transportation Services Index a tad stronger in July

The Transportation Services Index (TSI) in July reached 122.7, up 0.4 percent from June's level and 1.5 percent from July 2014's index, according to the U.S. Department of Transportation's Bureau of Transportation Statistics (BTS).

The Freight TSI in July climbed to 122.8, a 0.6 percent increase on a month-over-month basis and 1.4 percent gain on a year-over-year basis. Freight shipments measured by the index — which reflects the monthly output of for-hire rail, trucking, inland waterway, pipeline and air freight firms — rose 0.2 percent in July.

The Freight TSI's gain was part of broad economic growth in July that was reflected in several measures impacting transportation, BTS officials said in a press release.

"The Federal Reserve Board Industrial Production index rose 0.6 percent, the same percentage increase as the Freight TSI. Personal income, employment and housing starts all rose," they said. "Among the transportation modes, significant increases in trucking and rail carloads led the Freight TSI upward along with a smaller increase in air freight. Water, pipeline and rail intermodal declined."

Meanwhile, July's Passenger TSI inched up 0.1 percent from June's level to 122.2. The measure of output from for-hire air, local transit and intercity rail service providers also rose 1.8 percent when compared with July 2014's index.