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The Transportation Services Index (TSI) in October tumbled 1.6 percent from September's level to 109.9, according to the U.S. Department of Transportation's Bureau of Transportation Statistics (BTS). On a year-over-year basis, the index declined 0.5 percent.

The Freight TSI fell 1.9 percent from September's level to 107.1. The index — which measures the output of for-hire rail, trucking, inland waterway, pipeline and air freight firms — declined in part because of Hurricane Sandy, which depressed freight-rail and truck traffic, BTS officials said in a prepared statement.

"Since peaking in December 2011 at the highest level in the 22-year history of the Freight TSI series, the index remained in a narrow band through the first nine months of 2012, but in October it dropped to its lowest level since May 2011," they said.

On a year-over-year basis, the Freight TSI decreased 1.6 percent.

The Passenger TSI in October dipped 0.8 percent from September's level to 117.5. The index, which includes data from air, local transit and intercity passenger-rail service providers, rose 2.4 percent compared with October 2011.