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4/6/2023
U.S. rail volume fell 7.6% to 2,323,708 carloads, containers and trailers in March compared with volumes in the same month a year ago, according to Association of American Railroads data.
Total carloads dipped 1.2% to 1,164,052 during the month, while total containers and trailers plummeted 13.3% to 1,159,656 units.
Ten of the 20 carload commodity categories that AAR tracks each month logged gains in March. They included motor vehicles and parts, up 7.9%; petroleum and petroleum products, 9.4%; and coal, 1.2%.
Commodities that posted volume decreases included grain (12.4%); chemicals (4.9%); and stone, clay and glass products (8%).
There are no clear indicators so far this year that suggest the nation’s economic uncertainty won’t continue into the immediate future, said AAR Senior Vice President John Gray in a press release.
"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," Gray said.
Excluding coal, the number of carloads fell 2.1% in March. Excluding coal and grain, carloads were down 0.5%.
For the first three months of 2023 compared with the same period last year, U.S. railroads reported 2,993,492 carloads, a 0.3% decrease, and 3,023,563 intermodal units, a 10.3% decline.