Rail Traffic At Highest Level Since 2008
1. This is the 33rd consecutive week in 2010 that intermodal volume is above the same week in 2009, with 24 of those weeks being double-digit percentage gains.
2. Rail carloads have increased in 26 out of the last 27 weeks versus the same week last year.
3. Fifteen of the 19 carload commodity groups increased from the comparable week in 2009 with significant increases in metallic ores (62.2 percent), metals and metal products (40.2 percent) and farm product excluding grain (33.4 percent).
4. Canadian railroads reported volume of 76,064 cars for the week, up 16.5 percent from last year, and 53,747 trailers or containers, up 24.4 percent from 2009. For the first 34 weeks of 2010, Canadian railroads reported cumulative volume of 2,458,747 carloads, up 20.6 percent from last year, and 1,585,669 trailers or containers, up 15.7 percent from last year.
5. Mexican railroads reported originated volume of 14,531 cars, up 18 percent from the same week last year, and 8,168 trailers or containers, up 26.7 percent.
MP: Warren Buffett's single most favorite economic indicator - rail freight traffic - continues to set records for both 2009 and 2010, with both rail carloads and intermodal volume now at the highest levels since 2008. Based on the steadily increasing volume of raw materials, natural resources, lumber, coal, grains, chemicals, metals, motor vehicles and paper products moving around the country by rail (and Canada and Mexico), the economic picture continues to get a little brighter almost every week.
3 Comments:
but, as we prepare to end the 5th quarter of "recovery" we are still down significantly from 2008 -
down 11.3 in carloads an 1.2% in intermodal.
average that out by number of initiations and you get about a 7.2% drop from 2008.
i'd be willing to be that this is less of a recovery over time than any other since ww2.
the economy began recovering in july last year, so these comparisons are going to begin to get really difficult in 2 more quarters. if we have not exceeded 2008 by then, that would seem to be a real issue.
A check of this web site for September 2009 contains the following:
Real Estate Recovery: Phoenix, Miami, Las Vegas
14th Straight Month of Pending Sales Increases for the Minneapolis Area Housing Market
U.S. Home Prices Increase for the Third Month in a Row For the First Time Since Spring 2006
Chicago Fed Index Increases for 7th Straight Month
Florida Real Estate Market Recovery: 12th Consecutive Monthly Increase in Home Sales
Truck Tonnage Index Rose 2.1% in August, Follows 2.1% Increase in July, Reaches Six-Month High
Consumer Confidence at Highest Level Since January 2008, Largest 6-Month Gain in 15 Years
Home Inventory Measure Falls to April 2007 Level
Jobless Claims Fall to Lowest Level in 34 Weeks
Emerging Markets Index Reaches New Yearly High
Volatility Index Falls to 1-Yr. Low, Bloomberg Financial Conditions Index Reaches New 2-Yr. High
Richmond Fed Index: It's Over
History of Leading Indicators: The Recession's Over
If the economy has been getting better for so long why is it not better than it is?
James
I think you may have answered your own question. You've listed several soundbytes of info indicating a recovery.
Employment has always been a lagging indicator.
Post a Comment
<< Home