The July 4th holiday complicates an analysis of U.S. rail volumes in July, but there were some encouraging signs.
For example, the three non-July 4 weeks in July were the three highest-volume intermodal weeks of the year for U.S. railroads. Intermodal in July 2023 was still down 5.5% from July 2022, but that’s the smallest percentage decline for any month so far this year.
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Click on graph for larger image.This graph from the Rail Time Indicators report shows the six-week average of U.S. Carloads in 2021, 2022 and 2022:
U.S. railroads originated 875,660 total carloads in July 2023, down 0.6% from July 2022 and their second straight small decline. Carloads averaged 218,915 per week in July 2023, the fewest for any month so far in 2023. July 4th is a big reason for that — the week of July 4th is always one of the lowest-volume weeks of the year. .
The second graph shows the six-week average (not monthly) of U.S. intermodal in 2021, 2022 and 2023: (using intermodal or shipping containers):U.S. intermodal volume averaged 241,888 containers and trailers per week in July 2023, down 5.5% from July 2022 and the 23rd decline in the past 24 months. July’s percentage decline was the smallest so far this year. The three non-July 4 weeks in July were the three highest-volume intermodal weeks of the year, which could be a hopeful sign for the future.