Weekly Transportation Update: Wholesale sector sales decline more than inventories in March

In March, economic indicators presented a mixed outlook. Wholesale sales dropped more sharply than inventories, possibly indicating oversupply or reduced demand. Both real exports and imports of goods declined, likely influenced by global trade dynamics and supply chain disruptions. New jobless benefits claims surged, reflecting ongoing labor market challenges. However, mortgage rates fell for the first time in six weeks, potentially boosting home buying. Diesel prices continued their decline, aiding transportation-dependent industries, while refrigerated truck spot rates surged due to increased demand for cold chain logistics. CDL hiring rebounded from a December lull. Despite challenges, total rail traffic increased year-on-year, suggesting resilience in transportation. These varied trends underscore the complexity of today's economic landscape.

• Real exports and imports of goods fall in March.
• Unemployment benefit claims rise by the most since January.
• Refrigerated spot rates soar heading into Mother’s Day.
• Total rail traffic was up more than 2% y/y in the latest week.