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by Tyler Durden
The latest Carload Traffic data from the Association of American Railroads is out. If one relies on one of Warren Buffett's traditional leading indicators, there is no respite in sight for the economy. Weekly decline was -17.1% for week 38, with material hits across virtually every carload category. Cumulative traffic decline was relatively flat over the past month at -18.2%.
Official press release from the AAR:
The Association of American Railroads today reported 271,659 carloads for the week ending Sept. 26, 2009, down 17.1 percent compared with the same week in 2008. The traffic numbers were affected by severe flooding in Tennessee and Georgia which halted freight shipments in those areas from Sept. 21-23. Flooding also impacted the western freight carriers who operate through Atlanta. At this time, freight rail operations have returned to normal. Regionally, carloadings were down 15.5 percent in the West and 19.3 percent in the East.