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GDP rises in Q3, but the goods transport economy fades

• New orders for core capital goods see largest decrease since May 2021.
• Sales of new homes fall in September after August’s surprising increase.
• The trucking spot market sees volume growth, mostly stable rates in the latest week.
• Railroad labor issues return to the spotlight.

Industrial production and manufacturing output see gains in September.

• Housing starts fall but remain above 2019 levels.
• Diesel prices continue to rise as distillate inventories are still very low.
• Truck spot metrics generally move seasonally while West Coast volume is lowest since May 2020.
• Intermodal volumes hold steady as harvest drives up rail carload volume.

New orders for core capital goods show solid gain in August.

• Sales of new homes surprise with a sharp rebound.
• Real spending on goods declines as real spending on services ticks higher.
• CDL driver hiring activity in August was the strongest of the pandemic.
• Intermodal shows no volume improvement in week following rail strike scare.