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As economic indicators go, May's Transportation Services Index (TSI) proved promising. The index reached 112.4, up 1.6 percent from April's level and 1.7 percent from May 2007's level, according to the U.S. Department of Transportation's Bureau of Transportation Statistics.

The TSI — a measure of month-to-month changes in the output of services provided by for-hire freight and passenger transportation industries — was flat in April, dropped slightly in March and February, and posted a gain in January.

May's Freight TSI totaled 111.4, up 1.9 percent from April's level — the largest month-over-month increase since January. A measure of the month-to-month changes in the output of services provided by for-hire rail, trucking, inland waterways, pipelines and air freight companies, the index also rose 2.1 percent compared with May 2007's level.

May's Passenger TSI totaled 116.9, up 0.6 percent from April's level. The index also rose 0.4 percent vs. May 2007's level — marking five consecutive year-over-year increases in May, but the smallest gain since May 2003. The Passenger TSI is a measure of the month-to-month changes in the output of services provided by for-hire air, local transit and intercity rail providers.