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Rail Traffic Hits new high as Jobless Claims hit new Lows

Just a quick update here on the weekly data in rail traffic and jobless claims, two of the better real-time economic indicators we get regularly.

Intermodal rail traffic came in at 8.6% on a year over year basis which brings the 12 week moving average to 8.9%.  That’s a new three year high in the moving average and a clear sign that the economy certainly is getting some Q2 “pay back” after the cold snap after this year.

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Meanwhile, jobless claims continued to hit fresh lows.  The number of people filing for employment insurance fell to 300K for the most recent week.  The four week average is at a fresh recovery low of 311.5K.

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