Economy
Freight Volumes
Rail
Economy
Freight Volumes
Rail
Weekly Transportation Update: First-time claims for unemployment benefits fall sharply
The FTR Experts
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Weekly Transportation Update: First-time claims for unemployment benefits fall sharply
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In recent economic developments, initial jobless claims saw a sharp decline, while wholesale inventories were skewed by fluctuations in petroleum products. June witnessed real U.S. goods exports surpassing imports, indicating a positive trade balance. Mortgage rates dropped to their lowest since May 2023, and diesel prices continued their downward trend for the fourth consecutive week. Van spot rates experienced an uptick, although they remain below 2023 levels. Carriers reduced CDL hiring activity in June, and rail carload traffic recovered after a challenging July. Additionally, the CIRB has permitted a potential rail strike in Canada, signaling possible disruptions ahead.
- Petroleum products were mostly to blame as wholesale inventories outpace sales in June .
- Real goods exports post strong gain in June as imports also rise.
- Dry van and refrigerated spot rates increase but weaken relative to 2023.
- CIRB gave the green light for the Teamsters to strike Canadian railroads as early as August 22.
