Economy
Freight Volumes
Rail
Economy
Freight Volumes
Rail
Weekly Transportation Update: Manufacturing output strengthens as automotive nearly matches its record
The FTR Experts
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Weekly Transportation Update: Manufacturing output strengthens as automotive nearly matches its record
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In June, manufacturing output surged to a 20-month high, with automotive production nearly tying its record peak. Real retail trade sales also saw an increase. Although inventories remained relatively stable compared to sales in May, housing starts rose in June but were still down year-over-year, while homes under construction continued to decline. Mortgage rates decreased again in the latest week, and diesel prices fell after four consecutive increases. Van spot rates continued to run higher year-over-year, and rail traffic showed some recovery from the holiday lull. Additionally, the Surface Transportation Board (STB) has scheduled a hearing to discuss rail growth strategies.
- Retail sales were flat in June but pricing and unusual circumstances were factors.
- Housing starts improve in June following modest upward revision of May estimate.
- Total truck spot rates post their first y/y gain since June 2022.
- Intermodal’s y/y volume strength continued due to last year’s Western Canada ports strike.
