There is a great quote from the sci-fi series "Babylon 5" that says, "understanding is a three-edged word; your side, my side and the truth in between." That seems particularly relevant when looking at the discrepancy between what rail and industrial sales data says about the economy and what the market is saying about the near-term outlook for the broader U.S. economy. Not only is rail data showing solid momentum, but there is ample room still left to grow, before the stats have to carve out new highs. (For related reading, see A Primer On The Railroad Sector.)
November Rail Data
Once again the Association of American Railroads' Rail Time Indicators has shown encouraging and positive news on the underlying state of the U.S. economy. Rail traffic, which is measured in carloads, rose 2.3% in November from the year-ago level and 0.9% from October. Of the reporting categories, 13 were positive, which is equal to last year and up one from the month of October.
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