“Rail traffic was mixed again this week, but the trend in intermodal remains modestly positive. The AAR reported a decline of 3.1% in carloads and an increase of 4.1% in intermodal traffic. The 10 week moving average in intermodal ticked up to 3.5%. I track intermodal because it has tended to involve less volatility in specific commodity names and tracks the economy a bitter more closely. While intermodal growth is nowhere near the rate of change we saw in 2010, it’s clearly still growing. This served as an early warning indicator into the 2008 downturn and has yet to show signs of contraction. Here’s more from the AAR:”
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