FYI: By at least one measure, the transportation sector just rose to a new all-time high — suggesting the economy is not as weak as otherwise thought.
I’m referring to the Freight Transportation Services Index, which is compiled by the Bureau of Transportation Statistics at the U.S. Department of Transportation. The Bureau last week reported that this Index rose 1.4% over the previous month and is now at an all-time high, as the chart above shows.
This is noteworthy because other gauges of the transportation sector have been painting a far less optimistic picture. Even as the Dow Jones Industrial Average DJIA, -0.11% has risen this year to several all-time highs, the Dow Jones Transportation Average DJT, -0.35% has seriously lagged. Currently, for example, it’s 11% below its all-time high (from the fall of 2018) and is more than 7% below its 2019 high (from April).
Regards,
Ted
https://www.marketwatch.com/story/this-transportation-measure-is-far-more-upbeat-than-the-dow-transports-2019-10-15/print
