| Rail Data Shows Recovery Is Still Meager The latest rail traffic trends are continuing to show signs of stability and a very modest economic recovery. Intermodal rail traffic was down 12.6% versus the same period last year. This was down marginally from last weeks reading. The weakness was abroad across all segments of the economy: Complete Story » seekingalpha.com |
Consumer Reports' Annual Auto Survey Sees Gains for Detroit TheCarConnection.com submits: A couple of weeks ago, Nelson Ireson reported on Consumer Reports' latest Reliability Survey, which put Ford (F) and Lincoln at the head of the reliability pack. Now Consumer Reports has more good news for Big Three automakers thanks to its new Auto Survey, which places several American autos on the magazine's "top satisfaction list". Even better for Detroit fans, the Dodge Challenger has charged to the top of the rankings, earning the survey's highest marks and the honor of being the most satisfying car in America. For several years, the Toyota Prius has taken the top spot on the annual Auto Survey, but this time around, the Prius was edged out by not one, but two American rides: the Challenger motored to the top spot, with 92% of buyers saying they'd definitely buy one again, and the number two spot was taken by the Ford Fusion Hybrid, which earned a 91% score. Prius fans shouldn't fret too much, though: the flagship hybrid still ranked near the head of the class, alongside the AWD Acura TL, the Chevrolet Corvette, and the Porsche 911.Complete Story » seekingalpha.com |
Shipping Chairman Warns of Economic Sluggishness Michael Panzner submits: In large measure, the global economy depends on cross-border trade, while cross-border trade depends on one industry, in particular: transportation. With that in mind, the following report from the Financial Times, "Tung Gloomiest Yet on Shipping," seems somewhat at odds with recent remarks from the suddenly born-again optimist who runs Fedex (FDX) [italics mine]: The chairman of one of Asia’s biggest container shipping companies has given the gloomiest assessment yet of the sector’s future by a senior industry figure, after Orient Overseas International announced $401m losses for 2009.Complete Story » seekingalpha.com |
Using Rail Data to Determine U.S. GDP Growth Tom Malthus submits:I often analyze the volume of US train car activity released by the Association of American Railroads, hoping to find some magical predictive power over equities, manufacturing, IP, etc., but what I usually end up with is a mediocre coincident indicator.While in some isolated incidents the index can exert considerable forecasting prowess, volatility and past false positives make interpreting these results extremely difficult. Nevertheless, despite its shortcomings the data have a big advantage in that it is a weekly release, and unlike other indices it cannot be impacted by speculative investors, as it tracks the actual volume of cars on the track.Complete Story » seekingalpha.com |
Truck Tonnage Index Increases for 8th Month Mark J. Perry submits: ARLINGTON, VA — The American Trucking Associations’ advance seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 1.5% in July, although June’s reduction was revised from 1.4% to 1.6%. The latest improvement raised the SA index from 108.3 (2000=100) in June to 110 in July. Compared with July 2009, SA tonnage climbed 7.4%, which matched June’s increase and was the eighth consecutive year-over-year gain (see chart above). Year-to-date, tonnage is up 6.7% compared with the same period in 2009. ATA Chief Economist Bob Costello said that July’s data didn’t change his outlook for subdued tonnage growth in the months ahead, stating, “The economy is slowing and truck freight tonnage has essentially gone sideways since April 2010.” Nevertheless, Costello believes that tonnage will post moderate gains, on average, for the second half of the year. “After accounting for the reduction in supply over the last few years, even small gains in tonnage will have a larger impact on the industry than in past.Complete Story » seekingalpha.com |