Weekly Transportation Update: Housing Starts Surge as Existing Homes Sales Flounder

Housing starts surge in May, but sales of existing homes were weak.

• New claims for unemployment benefits are holding at the highest level since October 2021.
• Truck spot rates decline during the week before the traditional seasonal run-up
• Rail carload volumes look to hold nearly steady into the fall.
• Intermodal volumes bounce back as port disruptions ease.