October 22, 2003

Good News from Transportation

Good news from the transportation industries:

WSJ.com - As Volumes Pick Up, Shippers See Economy Gaining Traction: ...For the first time since the economy began slowing three years ago, many of the country's largest transportation companies are seeing signs of a broad-based recovery that appears to have staying power. The turnaround is coming in sectors that handle the vast bulk of goods transported domestically: railroads, trucking and package delivery. Their performance is considered a leading indicator of future economic growth, because many of the items they carry are used as raw materials in industrial production and for replenishing inventories. The companies, which closely monitor their biggest customers' own future expectations, say they are seeing increased demand across a broad swath of industries, from manufacturing and chemicals to retailing and lumber...

Posted by DeLong at October 22, 2003 09:58 AM | TrackBack

Comments

...bad news for Democrats

Posted by: goethean on October 22, 2003 10:53 AM

"...bad news for Democrats"

Rubbish. That is idiot thought. Hopefully, the economy is finally growing fast enough to break the job loss cycle we have experienced since the recession ended in November 2001. The bad news for all of us, is that we have a structural budget deficit that will increasingly drain us for years and years.

Posted by: jd on October 22, 2003 11:39 AM

A typically leading indicator, shpping activity, points to better times. Roach (as Brad pointed out some time back) has identified a very strong tendencies for consumer durables to slump if they rise much above their usual growth path for very long (the old saw-tooth business). Consumer durables have been running massively above their usual growth path. Which is the real deal? Beats me.

Posted by: K Harris on October 22, 2003 04:53 PM
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