North American rail traffic down 5.2% for the week ending September 2

The Association of American Railroads, AAR, reported U.S. rail traffic for the week ending September 2, as well as volumes for August. U.S. railroads originated 1,133,375 carloads in August 2023, down 2%, or 23,323 carloads, from August 2022. U.S. railroads also originated 1,239,290 containers and trailers in August 2023, down 6.3% or 83,717 units, from the same month last year. Combined U.S. carload and intermodal originations in August 2023 were 2,372,665, down 4.3% or 107,040 carloads and intermodal units from August 2022. “August was the third straight month in which total year-over-year U.S. rail carloads have fallen,” said AAR Senior Vice President John T. Gray. “A major reason why is that other than automotive manufacturing, the industrial economy, in recent months, has not been doing as well as other areas of the economy. Until industrial activity, and especially manufacturing, recovers, rail volumes in many key markets could remain constrained.”…Total U.S. weekly rail traffic was 476,851 carloads and intermodal units, down 5.4% compared with the same week last year. Total carloads for the week ending September 2 were 231,113 carloads, down 1.6% compared with the same week in 2022, while U.S. weekly intermodal volume was 245,738 containers and trailers, down 8.7% compared to 2022. North American rail volume for the week ending September 2, on 10 reporting U.S., Canadian and Mexican railroads totaled 337,338 carloads, down 0.1% compared with the same week last year, and 328,232 intermodal units, down 9.9% compared with last year. Total combined weekly rail traffic in North America was 665,570 carloads and intermodal units, down 5.2%. North American rail volume for the first 35 weeks of 2023 was 22,675,055 carloads and intermodal units, down 4.1% compared with 2022. Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Canadian Pacific Kansas City (CP), Kansas City Southern (KSU), Norfolk Southern (NSC), Union Pacific (UNP),Trinity Industries (TRN), Greenbrier (GBX), Wabtec (WAB), FreightCar America (RAIL) and Rail Vision (RVSN).