WASHINGTON — U.S. rail traffic was up 4.2% in March compared to the same month in 2023, the second straight month of year-over-year gains, according to statistics from the Association of American Railroads.
Traffic for the week ending March 30 was also up, the 10th straight week showing gains compared to a year ago.
The March gain followed a 4.9% increase in February see [“U.S. rail traffic up in February,” Trains News Wire, March 7, 2024]. It included a 3.5% decrease in carload traffic and an 11.7% improvement in intermodal volume.
“Large swaths of rail traffic reflect broader economic changes,” said Dr. Rand Ghayad, AAR chief economist. “The recent announcement by the Institute for Supply Management that its manufacturing sentiment index turned positive in March aligns with rail carloads, excluding coal, showing a healthy 2.9% growth. This growth was driven largely by chemicals, petroleum products, and autos, critical components of our economy. Conversely, coal volumes continue to decline due to ongoing shifts in electricity generation markets. Intermodal was again a bright spot in March, reflecting stable consumer spending, increasing port activity, and a reduction in inventory destocking.”
Through three months of 2024, carload traffic is down 4.2%, or 122,088 carloads, while intermodal traffic is up by 9.1%, or 272,238 containers and trailers. Overall, traffic is up 2.5%.
Week ending March 30
U.S. traffic for the week was 472,651 carloads and intermodal units, an increase of 3.2% from the same week in 2023. That includes 218,733 carloads, down 3.2% from the corresponding week a year ago, and 253,918 containers and trailers, up 9.3%.
North American volume for week, from 10 reporting U.S., Canadian, and Mexican railroads, included 328,007 carloads, down 4.1% compared to the same week in 2023, and 335,908 intermodal units, up 8.2%. The combined total of 663,915 carloads and intermodal units is an increase of 1.8%. Through 13 weeks of 2024, North American volume is up 1.8% compared to a year ago.
