Transportation Services Index inched up in July

The Transportation Services Index (TSI) in July reached 119.8, up 0.7 percent from June's level and 3 percent from July 2013's mark, according to the U.S. Department of Transportation's Bureau of Transportation Statistics (BTS).

July's Freight TSI of 119.6 ratcheted up 0.9 percent on a month-over-month basis and increased 3.2 percent on a year-over-year basis. The measure of output from for-hire rail, trucking, inland waterway, pipeline and air freight firms shows all freight modes except waterway and pipeline registered gains in July after declining in June, BTS officials said in a press release.

Several economic indicators that often impact transportation increased in July, including industrial production, led by manufacturing and construction, and shipments and inventories of manufactured goods, they said. In addition, transportation employment and overall employment grew. After dipping to 94.6 in April 2009, the Freight TSI has increased a total of 26.5 percent in the succeeding 63 months, BTS officials said.

Meanwhile, July's Passenger TSI clocked in at 119.8, up 0.3 percent from June's level and 2.6 percent from July 2013's mark. The index measures month-to-month changes in output from for-hire air, local transit and intercity rail service providers.