The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

The American Association of Railways reported that the week ending Nov. 9 marked the 19th in a row in which rail traffic showed a gain relative to 2012. Berkshire Hathaway’s Warren Buffett, pictured, has said he believes rail traffic is the most important economic indicator.
The American Association of Railways reported that the week ending Nov. 9 marked the 19th in a row in which rail traffic showed a gain relative to 2012. Berkshire Hathaway’s Warren Buffett, pictured, has said he believes rail traffic is the most important economic indicator.
(RICK WILKING/REUTERS)

Don’t look in the rear-view mirror, and U.S. data looks optimistic

Friday’s U.S. industrial production report provided another example of the disappointing economic reports that have pulled the Citi Economic Surprise Index lower from 53 in early October to 6.9 now. November’s data, however, has not been uniformly distressing, and some of the most positive results are in the most forward-looking indicators.