Transportation Services Index Sets Another Record in May

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he Department of Transportation said Friday its Transportation Services Index rose 0.1% in May to a record 124.3, while the freight TSI also hit another new high.

TSI is a seasonally adjusted monthly index measuring the output of services provided by the for-hire transportation industries, including railroad, air, truck, inland waterways, pipeline and local transit.

The index includes data dating back to 1990, with changes measured against the base year of 1996. DOT said TSI is still under development and is considered experimental.

May's reading was 8.5% higher than a year earlier, DOT said in a statement. TSI has increased every month since August 2003 except for January.

DOT said the TSI for freight increased 0.2% in April to a record 126.1. The freight index was 7.5% higher than May 2003 and has increased four straight months.

The report also noted the passengers index declined 0.2% in May to 120.6, which was 11.1% higher a than a year earlier.