Weekly Transportation Update: The economy sees solid growth in Q4 as does the freight economy

In the final quarter of 2023, the economy continued its remarkable growth, and this positive trend extended to the freight transportation sector. However, it is important to note that the data pertaining to last week in the freight transportation industry was distorted by the severe winter weather that prevailed across the country. This weather condition led to substantial increases in truck spot rates and had a detrimental impact on rail and intermodal volumes.

• Consumer spending posts another strong gain in December.
• Sales of new homes recover most of the prior-month’s decrease.
• Severe winter weather sends truck spot rates soaring.
• Surface Transportation Board adopts final rule concerning emergency service directives.