Rail Traffic Falls

Total N.American rail traffic fell to 653k cars last week. As cautious as we were about getting overly excited about last weeks high number, we are as equally cautious about getting worried about this one.

This is the time of year were volatility in the number is the norm. I would expect significant swings in the data over the next two weeks due to the 4th of July holiday.

It is the overall trend we care most about, not the weekly swings and that remains positive