It’s widely understood that rail traffic is one of the best pure measures of the health of the economy.
Cullen Roche has been charting the weekly rail data, and the trend is clear. On a year over year basis, there’s been a nice upturn over the past several weeks.
Photo: Pragmatic Capitalist
Still, it’s undeniable that there’s been a lot of bummer data out there lately.
But there is a pulse, and a lot of our favourite indicators (like initial claims) are not showing deterioration. The direction of the economy remains a question.