In Q2, GDP grew by 2.8% annualized, with the freight economy rising 5.3%. Real consumer spending increased by 0.2% in June. Retail inventories remained lean relative to sales.
The aircraft sector significantly impacted durable goods orders. Existing home sales fell sharply in June, while new home sales slightly declined. Mortgage rates remained stable.
Diesel prices declined for the second consecutive week, easing transportation costs. Spot rates for flatbed and van increased year-over-year. Rail traffic showed mixed results: carload traffic was down, but intermodal traffic was up. A new rail safety bill was introduced in the U.S. House.