This week, economic data was limited, but there was a glimmer of strength in the housing market as existing home sales saw an increase. However, the recent rise in mortgage rates could potentially hinder further recovery. On the transportation front, diesel prices remained stable after a significant 21-cent spike last week.
The unusually severe winter weather in mid-January seems to have impacted key seasonally adjusted economic indicators. The Federal Reserve mentioned winter weather as a contributing factor in industrial production figures.
In a relatively quiet week, wholesale inventories held steady and sales increased. Real exports and imports rose in December. Mortgage rates have been stable for eight weeks. Diesel prices rose for third time in four weeks. And rail traffic strengthened.
In January, the United States experienced significant growth in job opportunities, with data revisions revealing an even larger increase in December than initially reported. However, upon annual data revision, it became evident that employment in sectors associated with freight had weakened considerably compared to previous indications. Concurrently, there was a sharp decline in the number of active for-hire trucking companies.
You ask. FTR Experts answer.
