Rail Traffic Also Bucking Trend

 

Something is going on out there folks. Monday we had temp staffing breaking historic trend and not cratering but rising into the end of the year. Today we have total N. American rail traffic staying flat (down only 2k cars) rather than doing an end of year swoon.  Any one data point breaking a trend can be an anomaly, but when we start seeing multiple data sets doing it, it bears noticing. This is specially so when the two sets are so closely tied to the health of the economy.  I find it hard to believe both do not fall when this weeks and next weeks data come out, but unless the fall is near the over 25% drop we typically see in rail traffic, then we are seeing some impressive underlying strength out there that people are not picking up on. Should they not fall, then I think it is time to materially raise Q4 GDP estimates