Total N. American rail traffic was flat last week at 690K cars. What makes this # more impressive is it is of a 663k number last year AND last year’s number included 17k more coal shipments. See chart below:
As for the “what” was being carried, both chemicals and auto saw large YOY gains meaning the auto sector remains very strong (kinda of a no kidding after recent auto data but confirmation is always good) and for chemicals, think manufacturing.
I know there is the incessant talk out there of the US already in or entering a recession, somebody better tell rail shippers because I think they are clueless as to that based on their data….
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