Rail traffic continues to tell an optimistic economic story as the AAR reported a 10.8% surge in weekly intermodal traffic. This reading brings the 12 week average to 4.9% which is the highest reading in seven months.
(Chart via Orcam Financial Group)
Here’s more via the AAR:
“AAR today also reported increased rail traffic for the week ending Nov. 2, 2013. U.S. railroads originated 292,398 carloads last week, up 5.1 percent compared with the same week last year, while intermodal volume for the week totaled 264,264 units, up 17.7 percent compared with the same week last year. Total U.S. rail traffic last week was 556,662 carloads and intermodal units, up 10.8 percent compared with the same week last year. Rail traffic in the comparable week of 2012 was affected by Hurricane Sandy.
Eight of the 10 carload commodity groups tracked on a weekly basis posted increases compared with the same week in 2012, including nonmetallic minerals and products, up 18.6 percent; motor vehicles and parts, up 15.9 percent; and petroleum and petroleum products, up 12.6 percent. The groups showing a decrease in weekly traffic compared with the same week last year included farm and food products, excluding grain, down 3.3 percent; and coal, down 1.2 percent.
For the first 44 weeks of 2013, U.S. railroads reported cumulative volume of 12,384,147 carloads, down 0.7 percent from the same point last year, and 10,865,365 intermodal units, up 4.0 percent from last year. Total U.S. traffic for the first 44 weeks of 2013 was 23,249,512 carloads and intermodal units, up 1.5 percent from last year.”