ANOTHER YELLOWING GREEN SHOOT: RAILROAD VOLUMES

For the week ending June 27, total Class 1 railroad volumes declined 21.3% Y/Y, a reversal of some of the improvements made over the past couple of weeks. Volumes were down 18.3% Y/Y the prior week.

image Contributing the most towards this further contraction was Grain,
which was down 21.6% Y/Y this past week, versus down only 2.7% Y/Y the week prior. Crushed Stone, Sand & Gravel, was also down further at -34.1% Y/Y this past week, compared to down 23.2% Y/Y the previous
week. All but three categories were worse this past week, with the
exceptions (Metallic Ores, Lumber & Wood Product, and Metals &
Products) only improving very modestly.

image 

RBC Capital Markets

This entry was written by Denis Ouellet CFA and posted on July 3, 2009 at 11:51 and filed under Uncategorized. Bookmark the permalink. Follow any comments here with the RSS feed for this post.

Leave a Reply