Weekly Transportation Update: U.S. economic growth slowed in Q1, but strong goods imports were a factor

In the first quarter, the GDP saw a notable uptick, rising by 1.6% annually. March witnessed a surge in real spending on goods, while the personal savings rate hit its lowest point since October 2022. Retail inventories have slimmed down, indicating increased efficiency in supply chains. Moreover, there's a slight increase in nominal core capital goods orders, suggesting ongoing economic activity. In the housing sector, March saw a sharp rise in new home sales, signaling potential growth in the real estate market.

• Real consumer spending on goods rose sharply in March.
• Retail inventories have become considerably leaner in the past two months.
• Truck spot rates barely move overall as flatbed gains offset van declines.
• Intermodal and economically sensitive carload freight remain solid.