Canadian National Railway has upped its financial forecast for the year after reaping record first-quarter revenues from a bumper grain crop and higher oil prices.

The sunny outlook comes despite the C-E-O expecting a shrinking economy throughout much of the year, as volumes sag for shipping containers and some bulk cargo.

Chief executive Tracy Robinson says the railway’s current volumes indicate a mild recession and it’s unclear how long it will go on.

However, as overall volumes slip, the company plans to avoid cutting employees and focus on training locomotive engineers.

(Canadian Press)