Canadian National Raiway Company will report Q3 earnings on Tuesday. I expect another good quarter. CN is up 2.5% this morning after Canadian Pacific reported good results in Q3.
Rail car loadings for Canada are running higher than 2017 in most weeks. Rail car loadings are substantially higher than 2016 and 2015.
Petroleum shipments are up sharply in 2018. Intermodal which represents consumner goods have been running higher than 2017 but were below 2017 in the most recent two weeks which would be the start of Q4. Motor vehicle and parts shipments have been moderately lower than 2017.
These rail car load figures illustrate that the Canadian economy has grown at least modestly in 2018.