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Consumer spending on goods outpaced services in April.

• New orders for core capital goods rose in April.
• Sales of new single-family homes rose after downward revision of March estimate.
• Van spot rates surged during International Roadcheck week.
• Rail and intermodal volume largely is stuck in a status quo.
  
  

Automotive production sets seasonally adjusted record in April.

• Real retail sales basically hold steady after annual data revision.
• Wholesale inventories are very high relative to sales.
• Spot rates softened heading into this week’s almost certain increase.
• Rail employment trends show a flattening out at most carriers.
  
  

U.S. Economy Adds 253,000 Payroll Jobs in April

• The unemployment rate again falls to the lowest in 54 years.
• Closely watched manufacturing indicator improves but still suggests a slowing sector.
• Refrigerated spot rates see strongest gain of the year in the latest week.
• Intermodal sets another volume high for 2023.