Intermodal rail freight is in the midst of a strong recovery—another sign that the manufacturing sector and the economy have entered the early stages of a robust expansion this year.
The American Association of Railroads cautions that year-over-year comparisons are inflated by shutdowns during the pandemic last spring. Still, our analysis suggests that the amount of rail freight being moved in shipping containers or tractor-trailers appears to be approaching late-cycle or pre-trade-war levels, confirming the potential for increased manufacturing activity evident in recent increases in durable goods orders.
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