Transportation Services Index increased in September

The Transportation Services Index (TSI) in September ratcheted up 0.3 percent from August's level to 121.2, according to the U.S. Department of Transportation's Bureau of Transportation Statistics (BTS). On a year-over-year basis, the index rose 3.6 percent.

The Freight TSI logged its third-straight monthly gain in September, inching up 0.3 percent from August's mark to 121.5. The index — which measures the output of for-hire rail, trucking, inland waterway, pipeline and air freight firms — also increased 4.2 percent compared with September 2013.

"All freight modes grew in September except rail carloads, which were unchanged," BTS officials said in a press release. "During the month, several other indicators of related parts of the economy that often impact transportation increased. In particular, industrial production grew 1 percent after several months of slow or negative growth, [and] manufacturers' shipments and inventories both increased."

The Passenger TSI in September clocked in at 120, up 0.3 percent on a month-over-month basis and 2.2 percent on a year-over-year basis. The index measures month-to-month changes in travel provided by for-hire air, local transit and intercity rail agencies.

In the third quarter, the TSI increased 1.7 percent, Freight TSI rose 2.3 percent and Passenger TSI inched up 0.4 percent compared with third-quarter 2013 figures.