Transportation Sector Activity Was Mixed in April and May, Fed ‘Beige Book’ Report Says
The U.S. economy generally improved in April and May, though some areas showed deceleration and transportation services were mixed, the Federal Reserve said Wednesday.
Transportation activity in improved in the Cleveland, Atlanta, Kansas City and Dallas districts, the Fed said in its “beige book” report, which it issues eight times a year.
Philadelphia and Richmond noted slowing transportation growth, New York reported steady shipping activity and there was some slowdown in cargo traffic at Southern California seaports, the Fed said.
The Dallas district reported weakening in container trade volumes but noted increases in cargo volume, railroad shipments and small parcel shipments.
Dallas area intermodal firms noted an increase in cargo volumes, while railroad shipments rose moderately, the report said.
Fleet replacement and robust activity in oil and gas extraction were cited as reasons for continued strength in demand for heavy equipment in the Chicago district.
Some supply chain disruptions reduced activity in the automotive sector, but mostly for Japanese automakers and their suppliers, the Fed reported.
Wednesday’s beige book report, which covered the period of April 4 through May 27, was prepared by the New York Fed.
