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Thursday, July 16, 2009


rail loadings fall further

following on earlier comments -- via pragmatic capitalist -- rail freight volumes are falling off steeply.

The rail data remains severely depressed and is showing no signs of recovery. It is practically impossible to see a sharp economic recovery without improvement in this kind of data. Yesterday’s data from JB Hunt confirms the weakness.

there remains very little evidence of economic green shoots. in combination with (via ed harrison) an unexpected increase in unadjusted weekly claims and (via calculated risk) a bit of a relapse in the philly fed manufacturing indicator for june, there may actually be a bout of further economic weakening underway from june.

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