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Weekly Transportation Update: U.S. economy adds 175,000 payroll jobs in April

In April, the US added 175,000 payroll jobs, indicating modest employment growth despite a slight uptick in the unemployment rate. The ISM's manufacturing index contracted, while mortgage rates continued to rise, posing challenges for homebuyers. Diesel prices fell slightly, providing relief for transportation industries. Trucking jobs remained stable, but for-hire carrier numbers declined. Truck spot rates showed mixed trends, and Teamsters Canada authorized a rail strike, potentially impacting regional logistics. These events depict a complex economic landscape with both positive and challenging aspects across sectors.

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Weekly Transportation Update: U.S. economic growth slowed in Q1, but strong goods imports were a factor

In the first quarter, the GDP saw a notable uptick, rising by 1.6% annually. March witnessed a surge in real spending on goods, while the personal savings rate hit its lowest point since October 2022. Retail inventories have slimmed down, indicating increased efficiency in supply chains. Moreover, there's a slight increase in nominal core capital goods orders, suggesting ongoing economic activity. In the housing sector, March saw a sharp rise in new home sales, signaling potential growth in the real estate market.

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Weekly Transportation Update: Automotive production was quite strong in March

In March, there was a notable increase in manufacturing output, with automotive production nearing a record high. Nonstore retail led the growth in retail sales, while there was a significant drop in housing starts during the same period.

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Weekly Transportation Update: Consumer inflation rose in March at the same rate as February

Consumer inflation is sticky in March. Prices in the supply chain saw a slight increase, but at a slower pace compared to February. Additionally, there's a concern over rising diesel prices for freight transportation.

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Weekly Transportation Update: U.S. adds 303,000 payroll jobs in March as unemployment dips

This week saw a significant increase of 303,000 payroll jobs in the U.S. for March, with job openings remaining stable at 8.8 million. Additionally, diesel prices have dropped, and the ISM manufacturing index indicates expansion.

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Weekly Transportation Update: Durable goods orders edge higher in February

This week's economic data has been sparse, showing minimal changes in manufacturing orders and new home sales for February. Transportation metrics like diesel prices and trucking spot rates have also remained steady.

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Weekly Transportation Update: Housing starts rebound in February after weather-induced drop

Following a decline in January, housing starts have experienced a rebound. Concurrently, the real estate market has seen a surge in the sales of existing homes throughout February. Mortgage rates have also shifted, edging back towards the 7% mark. Additionally, diesel prices have reversed course in the latest week.

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Weekly Transportation Update: Manufacturing’s February gain fails to offset January drop in output

In February, key economic indicators improved after January's weather impact, but updated data revealed a larger hit than expected. February gains didn't fully offset January declines. Inflation remained a concern for both consumers and businesses, partly due to volatile fuel prices. Government pricing data for freight brokers in transportation showed continued strengthening, prompting questions about underlying causes.

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Weekly Transportation Update: U.S. adds 275,000 payroll jobs in February

The unemployment rate has increased to 3.9%, with a slight easing in mortgage rates and a continued fall in diesel prices. Additionally, rail carload volume is still below 2023 levels.

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Weekly Transportation Update: Consumer spending on goods falls sharply in January

Consumer spending on goods fells in January, while retail inventories saw small gains. This week saw a decline in diesel prices and slightly stronger carload and intermodal traffic.

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