North American rail traffic down 6.3% for the week ending April 1

The Association of American Railroads, AAR, reported U.S. rail traffic for the week ending April 1. "Rail volumes today are being negatively influenced by broader economic trends, including slowdowns in industrial output, high inventory levels at many retailers, lower port activity and consumer spending that’s not as robust as it was during most of the last three years," said AAR Senior Vice President John T. Gray. "To date, there are no clear economic indicators that suggest this uncertainty will not continue into the immediate future." Total U.S. weekly rail traffic was 467,430 carloads and intermodal units, down 7.4% compared with the same week last year. Total carloads for the week ending April 1 were 233,413 carloads, down 0.4% compared with the same week in 2022, while U.S. weekly intermodal volume was 234,017 containers and trailers, down 13.4% compared to 2022. Four of the 10 carload commodity groups posted an increase compared with the same week in 2022. They included metallic ores and metals, up 2,353 carloads, to 23,440; petroleum and petroleum products, up 1,566 carloads, to 10,127; and motor vehicles and parts, up 1,117 carloads, to 14,874. Commodity groups that posted decreases compared with the same week in 2022 included chemicals, down 1,788 carloads, to 33,347; grain, down 1,657 carloads, to 20,628; and nonmetallic minerals, down 1,331 carloads, to 30,702. North American rail volume for the week ending April 1 on 12 reporting U.S., Canadian and Mexican railroads totaled 341,360 carloads, up 1.8% compared with the same week last year, and 308,322 intermodal units, down 14% compared with last year. Total combined weekly rail traffic in North America was 649,682 carloads and intermodal units, down 6.3%. North American rail volume for the first 13 weeks of 2023 was 8,314,939 carloads and intermodal units, down 3.6% compared with 2022. Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Canadian Pacific (CP), Kansas City Southern (KSU), Norfolk Southern (NSC), Union Pacific (UNP), Trinity Industries (TRN), Greenbrier (GBX). FreightCar America (RAIL) and Wabtec (WAB). Reference Link