US Rail Traffic "Statistical Recovery"
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US Rail traffic is improving on a year over year basis, but looks are deceiving as the comparison is against very feeble 2009 traffic. Let's take a look at Railfax Data through April 24, 2010.
Total US Rail Traffic
The table shows the 4 week rolling average of auto traffic is up 32% from a year ago. However, auto traffic is still down 31.8% compared to 2008.
The same holds true for metals, up a whopping 71% from a year ago, yet down 18.5% from two years ago.
13 Week Rolling Averages - Year Over Year Comparisons
Please refer to the article for still more charts.
Traffic is up, but only based on anemic comparisons. This is what's known as a statistical recovery. By the way, it took trillions of dollars of global stimulus to generate that "recovery". Guess what happens when the stimulus stops?
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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