Rail activity slipped in October from September on a seasonally-adjusted basis. On a non-seasonally adjusted basis it grew.
Intermodal traffic in October was up 14.0 per cent compared with the same month in 2009, and up slightly by 1.2 per cent compared with October 2008. The weekly average of 235,444 intermodal units last month was the highest since October 2007, and the 12th highest weekly monthly average for intermodal on record.
“Last week the government announced that GDP grew roughly two per cent in the third quarter of 2010. Rail traffic in October suggests that similarly moderate growth is continuing into the fourth quarter,” said AAR Senior Vice President John T. grey. ”Just like our nation’s economy still has further to go to full recovery, so does rail traffic. Still, traffic is much better than it was a year ago, especially on the intermodal side, and railroads look forward to continuing to move the economy forward.”
Seasonally adjusted AAR data for October showed a slight month-to-month dip in carloads, down 0.5 per cent from September 2010, as well as in intermodal traffic, down 0.9 per cent from the month before.
Here’s a NON-adjusted chart of rail traffic (via CalculatedRisk)
On the other hand: Check out 13 signs that the double dip is toast >
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.