"The latest data from the AAR on rail traffic continues to point to a softening overall trend in the economy. They reported another substantial decline in carloads while intermodal continued its trend lower, but remains positive at +1.6% year over year. The breadth of the data is also increasingly weak so it’s not all coal at this point. Just 12 of the 20 commodity groups were up compared to last year. The 10 week moving average softened to 1.4% from 2.9% last week. Clearly, the trend is lower, but still positive. Consistent, in my opinion, with a muddle through economy..."
at http://pragcap.com/rail-traffic-trends-continue-to-turn-negative
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