Though the economic slowdown has unquestionably impacted the environmental services sector, the overall industry continues to enjoy the best underlying fundamentals in more than a decade. Since the beginning of April, the solid waste industry as a whole has rallied largely in step with the market - somewhat surprising given its relatively defensive reputation. Although the normal seasonal pickup is proceeding as expected, which, theoretically, is the only thing baked into guidance with regard to volume, waste volumes have not picked up due to the economy. Bottom line, there is no bad news, but we have not yet seen any fundamental change for the better in solid waste industry conditions.
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