“Rail freight loadings for week ended Nov. 8 were 881,401 cars, down 53,239 from prev. week and down 167,567 or 15.9% from 1929 week.”

but never fear!

“Col. L. Ayres of Cleveland Trust Co. predicts 1931 to be year of progressive but slow improvement, conditions still below normal at end of year.

“D. Friday, economist, says bottom of business depression reached in Oct. predicts 10%-12% recovery by spring.”

At this point a YOY chart really doesn’t tell the most accurate and useful story, does it? It would be better to see something like the change from the peak or something like that to see where we are in this. Otherwise this starts to look like it’s more positive than it really is. A rising trend line on this chart might be down to flat on a longer term chart with a different measuring criteria.