Pragmatic Capitalism’s Collen Roche writes: I’ve long been in the controversial “no
recession” camp in the USA and among the many indicators that have stood out
during this call was rail traffic. It
has continually pointed to positive growth in the USA in the face of
conflicting data points. The latest
reading shows more of the same with the year over year reading for this week
coming in at 3.3% for intermodal traffic and 0.4% for carloads.
The 10 week moving average for intermodal traffic is at
5.1%, but likely to weaken given the recent readings below 5%. Overall, this indicator seems to be pretty
consistent with my overall view – it’s muddle through for now, but not
recession…..
No comments:
Post a Comment