Intermodal Rail Traffic Highest in Four Years

"The American Association of Railroads today reported gains in weekly rail traffic, with U.S. railroads originating 312,170 carloads for the week ending Oct. 1, 2011 (week 39), up 4.7% compared with the same week last year. Intermodal volume for the week totaled 250,864 trailers and containers, up 4.4% compared with the same week last year. This week's U.S. carload volume is highest since Week 45 of 2008, and the intermodal volume is the highest since Week 39 of 2007."

MP: These ongoing improvements in U.S. weekly rail shipments suggest ongoing increases in economic activity. Especially when considering that intermodal rail volume reached a four-year high last week and is back to pre-recession levels, and carload rail volume is the highest in almost three years, the case for an economic slowdown or double-dip recession seems weak and unconvincing.

Market News and Data brought to you by Benzinga APIs