Old Man Buffett’s Favorite Indicators Stabilizes in the Low Single Digit Range

“Rail traffic trends have been undoubtedly weak in recent weeks as we’ve seen double digit year over year growth slide into negative territory.  This brought our 12 week moving average from a high of 6.75% in March to the low single digits.

The latest intermodal traffic data from AAR showed 2.8% growth which is an improvement from last week’s 1.6% reading, but still trending lower on a monthly basis.  We’re now at a 3 month low in the moving average at 3.13%.  So there are some small signs of stability, but the overall trend is still down….”

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