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Weekly Transportation Update: Housing Starts Surge as Existing Homes Sales Flounder

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.

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Weekly Transportation Update: Auto and Light Truck Sales Decline But Remain Above 2022 Average

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..

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Weekly Transportation Update: Job Openings Rise for First Time Since December

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.

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