Just chugging along here. Intermodal was up 3.2% on the week bringing the 12 week moving average to 4.2%. That’s the highest 12 week average in 6 months. If the economy is slowing at all it’s sure not showing up much in this data. Here’s more from AAR:
“The Association of American Railroads (AAR) reported increased weekly rail traffic for the week ending October 26, 2013 with total U.S. weekly carloads of 297,455 carloads, up 3.6 percent compared with the same week last year. Intermodal volume for the week totaled 261,231 units, up 3.2 percent compared with the same week last year, and up for the 17th straight week in a row. Total U.S. rail traffic for the week was 558,686 combined carloads and intermodal units, up 3.4 percent compared with the same week last year.
Eight of the 10 carload commodity groups posted increases compared with the same week in 2012, including grain, with 25,101 carloads, up 29.6 percent; and petroleum and petroleum products with 14,152 carloads, up 20.1 percent. Commodities showing a decrease compared with the same week last year included farm and food products, excluding grain, with 17,759 carloads, down 3.9 percent.
For the first 43 weeks of 2013, U.S. railroads reported cumulative volume of 12,091,749 carloads, down 0.8 percent from the same point last year, and 10,601,101 intermodal units, up 3.7 percent from last year. Total U.S. traffic for the first 43 weeks of 2013 was 22,692,850 carloads and intermodal units, up 1.3 percent from last year.”
Chart via Orcam Research:
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.