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Housing starts surge in May, but sales of existing homes were weak.

• New claims for unemployment benefits are holding at the highest level since October 2021.
• Truck spot rates decline during the week before the traditional seasonal run-up
• Rail carload volumes look to hold nearly steady into the fall.
• Intermodal volumes bounce back as port disruptions ease.
  
  

Auto sector continues to fuel higher U.S. imports from Mexico and Canada.

• Auto and light truck sales declined in May but were still well above the 2022 average.
• Wholesale inventories are still highly elevated relative to sales..
• Spot volume falls during Memorial Day holiday week, but rates change little..
• Intermodal and carload volumes fall as expected during the holiday week..
  
  

U.S. adds 339,000 payroll jobs in May as unemployment also rises sharply.

• Job openings increase modestly in April.
• The ISM manufacturing index eases as the new orders component falls sharply.
• Spot rate changes are mixed during the week following International Roadcheck.
• Intermodal volumes continue a strong Q2.