U.S. Economic Expansion Picks Up Steam as Railcar Volume Rises
Railroad-shipping is up almost 8% in the first quarter of 2011, which suggests that U.S. economic expansion is continuing to mount.
This was the fifth straight quarter that rail shipping increased, and the second highest increase in a first quarter, according to the Association of American Railroads.
The gains in the rail industry show the economy was able to withstand shocks such as severe winter weather, unrest in the Middle East, the earthquake and tsunami in Japan and higher gasoline prices in the first quarter, said Art Hatfield, a transportation analyst at Morgan Keegan & Co., based in Memphis, Tennessee.
“It’s pretty good when you consider we’re at the tail end of all the stimulus projects out there,” Hatfield said. “That’s an indication the economy is beginning to right itself.”
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