Still no sign of acceleration, as some deceleration continues:
(Econintersect) — Week 32 of 2015 shows same week total rail traffic (from same week one year ago) contracted according to the Association of American Railroads (AAR) traffic data. Intermodal traffic expanded year-over-year, which accounts for approximately half of movements. and weekly railcar counts continued in contraction.
(Econintersect) — ECRI’s WLI Growth Index which forecasts economic growth six months forward – just slipped back into negative territory. This index had spent 28 weeks in negative territory then 15 weeks in positive territory – and now returned to negative territory. ECRI released their coincident and lagging indicators for July this week.
(Econintersect) — China’s manufacturing sector reported the lowest PMI (Purchasing Managers’ Index) reading in 6 years with an August 2015 Caixin/Markit “Flash” (preliminary) survey result of 47.1. Readings below 50 reflect a contracting manufacturing sector. The low value for the survey result was a surprise. This was down from a July reading of 47.8 June reading of 49.4 and was the sixth consecutive reading below 50. Analysts surveyed by Bloomberg indicated expectations were for a reading of 49.7.