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.

• Nonstore retail leads growth in retail sales.
• Housing starts and sales of existing homes fall; mortgage rates top 7% again.
• Truck spot rates recover loss from previous week but essentially no more.
• Rail carload volume remains down y/y while intermodal strength continues.