North American freight shipments and expenditures
continued to buck the historic trend and increased
again in May. The first five months of 2014 were the
strongest since the end of the great recession. While
this seems counter to the dismal GDP reading for the
first quarter, which shows a one percent drop or a
contraction in the economy, much of the decrease in
GDP can be attributed to declining inventories, slowing exports and weather
related issues. Many other economic signs, especially growth in the manufacturing
sector, point to an uptick in the five-year recovery and a
continued increase in freight movements.
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