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Rail freight data for week 7 of 2010 was released Thursday and at this stage there still don't seem to be any signs of a recovery or "green shoots." The drop in carloads in week 7 was attributed to a sharp drop in coal loadings. Cumulative carloads to date in 2010 are down 17.2 percent from 2008. I'm not sure how people can account for the state of rail freight when they spin about "green shoots" or "V shaped" recoveries.

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Source: Rail Freight Data: Still No Signs of Recovery