The manufacturing sector gained strength in the fourth quarter of 2013, with retail demand remaining sluggish, according to the investment banking firm Stifel Nicolaus.
In a report issued Tuesday, the company highlighted its findings for the quarter, and concluded that energy-related, automotive and construction-related freight remains strong. It also found that grain traffic is on the rebound, and coal volumes continue to decline due to swollen stockpiles.
Stifel also noted that winter weather made an impact on the efficiency of operations, while fuel prices stayed stable in the quarter.
In addition, Stifel reported that tank car orders, as well as the tank car backlog, remains strong; intermodal is growing due to trucker and IMC collaboration; and that the wave of trucking regulations, most notably the new hours of service rule, has not yet led to capacity shortage.
Manufacturing up, retail down in Q4
