If we enter a double dip, it will be the first time the US has ever done that with both increasing rail traffic and auto sales. Because of that, recession talk, needs to be discounted even more, especially given this data in conjunction with Sept auto sales coming in at 13.1M SAAR, GDP for Q2 being revised UP, ISM, ISI numbers still showing expansion and employment numbers grudgingly improving.
Total N. American rail traffic last week came in a 721K cars, up from 704K the week before and the highest levels since pre-Lehman 2008. In short, a GREAT number.
Here is the chart: