Weekly Transportation Update: Manufacturing output holds steady as automotive continues recovery

The economic indicators released this week presented a mixed picture. While retail sales showed some modest strength in December, industrial production remained stagnant. The housing market faced its own challenges, with declining housing starts and the lowest sales of existing homes since 1995. However, there was a glimmer of hope as mortgage rates dropped to their lowest level since May. Despite this positive development, the market will continue to grapple with tight inventories and high prices.

•  Retail sales move higher in December.
• Sales of existing homes in 2023 were lowest since 1995.
• A strong increase in flatbed spot rates offsets continued easing in rates for van equipment.
• Rail volumes improve week over week but appeared muted by winter weather.