The Real Economy

More "green shoots".

Weekly US Railroad Carloadings Down 17.2%, Cumulative Decline By 18.1%

More "green shoots". Even as we have anniversaried the Lehman collapse, the primary indicator of economic viability and potential growth: intermodal traffic, continues to decline. In fact the weekly decline was slight worse, and came out at -17.2% YoY for week 40, nominally worse than the prior week's -17.1%. The categories most impacted were Primary Forest Products and Lumber and Wood Products, both instrumental in new housing construction.