Rail Traffic Continues To Rise
- Posted by ToddSullivan
- on August 23rd, 2012
Total N. American rail traffic came in at 700K cars last week. It marks the highest level of the year. If we account for the drop in coal (down to 130K from 140k-145k avg.) we are seeing the second highest number since we started tracking the series here. The highest number would be in wk 39 last year at 721K (149K of that was coal) so we ought to easily pass that in the upcoming weeks.
Stone, metals and chemicals had particularly strong showings. From an economic perspective those are great categories as those are “building block” materials for manufacturing and construction. It means we can expect continued strength from those sectors of the economy. Today’s housing numbers are indicative of that.
Here is the chart:
Bottom line? Nothing here indicates the economy is slipping at all…..
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Todd's investing strategy is essentially long with the rare short. He seeks to buy undervalued issues with an upcoming catalyst that will help them realized.... More »
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