Tuesday, October 14, 2014
The Economists Are Wrong: Rail Traffic Indicates GDP Growing Faster Than They Think
Record Setting Rail Traffic Shows Economy Growing Faster Than Economists Think
U.S. railroad traffic in third quarter 2014 set records that lead me to believe Gross Domestic Product will rise higher than economists predict.
Last month, a
of leading economists lowered their forecast for GDP growth to 3.0% from 3.1%.
I expect third quarter GDP to grow 4% to 4.5% due to record setting demand for intermodal freight, which is primarily the goods that trade in stores and businesses.
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