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The U.S economy grows in Q2, but the freight economy sinks.

• Vehicle sales drive increase in real consumer spending in June.
• Diesel prices rise by the most since October during the latest week.
• Spot rates fall again for all truck equipment types.
• Rail carload and intermodal volumes hold steady in the latest week.

Automotive output falls but remains very strong historically.

• Retail and food service sales change little overall, but individual sectors were mixed.
• Housing starts fall in June from May’s downwardly revised gain.
• All truck equipment types see a decrease in spot rates from the prior week.
• Canadian port labor uncertainty is a headwind for intermodal volume.

Core consumer inflation in June was tamest since August 2021.

• Pricing for freight transportation services fell in June, led by truckload.
• Diesel prices rise as crude oil hits its highest price since April.
• Van segment spot rates retreat as expected during the July 4 holiday week.
• Intermodal and rail carload volumes are hit by the holiday and Canadian port strike.
  
  

Employment growth cools a bit as the U.S. adds 209,000 payroll jobs in June.

• The ISM manufacturing index retreats further in June.
• CARB and truck manufacturers strike deal on California emissions regulations.
• Van segments see seasonal rate strength, but flatbed rates fall.
• Intermodal volume struggles due to Canadian situation; energy is a drag on rail carload traffic.