Transportation Services Index scored another gain in October

The Transportation Services Index (TSI) in October ratcheted up 0.4 percent from September's level to 121.4, according to the U.S. Department of Transportation's Bureau of Transportation Statistics (BTS). On a year-over-year basis, the index rose 3.7 percent.

The Freight TSI in October inched up 0.3 percent from September's mark to 121.8, registering a fourth consecutive month-over-month gain. The measure of output from for-hire rail, trucking, inland waterway, pipeline and air freight firms also climbed 4.6 percent compared with October 2013's level.

"The growth in October was led by trucking, rail and waterborne [movements]. During the month, several other indicators of related parts of the economy that often impact transportation increased," BTS officials said in a press release. "Employment and retail sales both increased, as did manufacturing output, though total industrial production declined slightly. Inventories increased to reach an historic high."

The Passenger TSI in October increased 0.4 percent from September's level to 120.1. Compared with the year-ago period, the measure of changes in travel provided by for-hire air, local transit and intercity rail agencies rose 1.6 percent.