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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (85809)	6/3/2020 9:45:20 AM
From: Goose94	Read Replies (1) of 202707

Canadian National Railway (CNR-T) sees the economy slowly bouncing back from the COVID-19 pandemic. CNR's volumes rose 4 per cent in the last week of May as manufacturing and construction sectors reopened. Chief executive officer Ghislain Houle says while the recovery is expected to be slow, it is a positive sign after shipments hit bottom last month. He says: "I think we're seeing the light at the end of the tunnel. Hopefully, it will hold." Rail volumes fell sharply during the height of the pandemic. Things started to pivot during the last week of May when lumber shipments rose 20 per cent and automotive volumes climbed 60 per cent from the previous week. Mr. Houle is bullish on grain and coal shipments through the West Coast while crude and frack-sand shipments will probably remain under pressure amid low oil prices. He says CNR will be "patient" before returning locomotives, cars and crews back to its network. Mr. Houle expects volumes in June to be "less worse" than May but still lower than a year ago. He says the recovery will probably be gradual as social-distancing rules continue.

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