In many respects, November's rail carload data (as reported by the Association of American Railroads (AAR) in its monthly
Rail Time Indicators
report) is more of the same, only more so. United States railroads
continue to see an ongoing erosion of coal business, but underlying
industrial demand continues to be relatively positive. Although a host
of U.S. industrial companies continue to express caution about demand
for the first half of 2013, carload traffic suggests that there may not
be as much downside risk as feared.
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