Chart of the week: US road haulage index defies the gloom-mongers
Transportation data is a helpful leading indicator, and according to America's For-Hire Truck Tonnage index, there is no sign of a dip in demand for road freight.
There has never been a recession in America without a preceding slide in road haulage, as Jonathan Allum points out in The Blah.
Transportation data is a helpful leading indicator as goods always have to be taken somewhere before being assembled or sold. The good news is that according to the For-Hire Truck Tonnage index, there is no sign of a dip in demand.
Other recent data has also defied the gloomsters, says a Gavekal Research note. The Atlanta branch of the US Federal Reserve has nudged its first-quarter GDP growth estimate up to 2.1%; manufacturing data and mortgage applications also indicate "a steadying of the ship". A "newly dovish" central bank should also boost investors' confidence.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Viewpoint
Robert Colvile, City A.M.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Family face £100k stamp duty bill after avoidance scheme crashes in court – the mistakes to avoid
A couple faces a substantial stamp duty bill after trying to reduce the amount they owed
-
How to get a guaranteed income in retirement
Savers want certainty in retirement, with almost two-fifths naming guaranteed income as their main priority. An annuity can achieve this – but what other income options are available to supplement it?