https://www.cassinfo.com/freight-audit-payment/cass-transportation-indexes/cass-freight-index
notice that shipments for 19 are lower than what they were for 2018 (though higher than 17, & 16).
expenditures are higher. but shipments are not.
higher prices is just inflation, not growth.
remember, it is just my opinion, but growth means more stuff being produced and shipped. here, the cass index does not match my RR indicator for this last month.
note, this graph does not break down different categories of freight. (which ones are up, and which ones are down, and by how much).
Interesting, a topic I know very little about.
Could the shipments be higher value ? Would that account for higher costs on fewer shipments ? I’m thinking less of things like coal and grain. Or is that not how trains work ?
Reason I ask is that we travel near a main UP line by highway 30 in Iowa-Nebraska. When traveling the other week we saw just as many sea containers going east as we always have, didn’t see one coal train.
China has said their GDP will be 1-2 % less due to the trade issue
Growth rates of the money supply have been going down hard lately. I see growth of about 1% for the 3rd quarter.