June freight rail traffic was down 19.5% in June 2009 from June 2008. This was the eighth straight double-digit monthly rail carload decline. This statistic is important because there is a very high correlation between rail freight traffic and GDP. Interestingly it would appear from scanning the report linked below, that the cash for clunkers program might have caused a brief bounce in automobile shipments. We know from the Edmunds.com report issued a few days ago that bounce in auto sales was quite brief. Here's the link to the report, which is quite interesting:
Rail Freight Shipments Plunging
Thursday, August 20, 2009
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