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Friday, August 05, 2011

AAR: Rail Traffic soft in July

by Calculated Risk on 8/05/2011 10:26:00 PM

Note: S&P downgraded U.S. debt to AA+. The regulatory agencies responded saying there would be no change for risk-based capital purposes for financial institutions.

Here are the earlier employment posts (with graphs):
July Employment Report: 117,000 Jobs, 9.1% Unemployment Rate
Employment Summary, Part Time Workers, and Unemployed over 26 Weeks
More Employment (Duration, Education, Diffusion Index)
Employment graph gallery

The Association of American Railroads (AAR) reports carload traffic in July 2011 decreased 1.0 percent compared with the same month last year, and intermodal traffic (using intermodal or shipping containers) increased 1.3 percent compared with July 2010. On a seasonally adjusted basis, carloads in July 2011 were up 0.7% from June 2011; intermodal in July 2011 was down 0.8% from June 2011.

On a non-seasonally adjusted basis, U.S. freight railroads averaged 277,921 carloads per week in July 2011, down 1.0% from July 2010’s 280,680 carloads per week and up 3.1% over July 2009’s 269,479 carloads per week. July 2011 was the fourth straight month in which carload traffic closely tracked year-earlier levels.

... July ... saw the biggest year-over-year monthly decline (and the second decline of any kind) in U.S. rail carload traffic in 16 months.
Rail Traffic Click on graph for larger image in graph gallery.

This graph shows U.S. average weekly rail carloads (NSA) excluding coal.

Rail carload traffic collapsed in November 2008, and now, 2 years into the recovery, carload traffic ex-coal is about half way back.

"Excluding coal, U.S. rail carloads in July 2011 were up 4.3% over July 2010."

Rail TrafficThe second graph is for intermodal traffic (using intermodal or shipping containers):
U.S. railroads originated 895,649 intermodal trailers and containers in July 2011, an average of 223,912 units and up 1.3% (11,724 units) over July 2010. That’s the lowest year-over-year increase since January 2010.
excerpts with permission
Another soft month for rail traffic.