cn-rail-0426-phThe country’s biggest railroad thinks the landing from surging inflation and higher interest rates could be harder than some economists expect. In a financial update on April 24, CN Rail reported signs of weakness in the consumer-driven segments of its business, including plastics, hard goods and lumber. “Our current volumes reflect that we are in a mild recession,” chief executive Tracy Robinson told analysts on a conference call. CN Rail volumes have dropped six per cent so far in April, “reflecting weakness in the economy,” said chief financial officer Ghislain Houle. CN also announced it will create an intermodal service connecting Canada, the United States and Mexico, in partnership with two other North American railways.

Source: National Post April 25, 2023 16:34 UTC