Weekly N. America Intermodal Volume Sets Record
WASHINGTON, D.C. – "The Association of American Railroads today reported gains for weekly rail traffic, with U.S. railroads originating 305,133 carloads for the week ending September 24, 2011 (Week 38), up 1.1 percent compared with the same week last year (see chart; MP: Except for the first week of April this was the highest weekly carload count since 2008). Intermodal volume for the week totaled 248,402 trailers and containers, up 3 percent compared with the same week last year. This weekly intermodal volume is the highest since Week 39 of 2007.
Combined North American rail volume for the first 38 weeks of 2011 on 13 reporting U.S., Canadian and Mexican railroads totaled 14,399,292 carloads, up 2 percent compared with the same point last year, and 10,764,400 trailers and containers, up 5.3 percent compared with last year. The combined weekly intermodal volume of 311,125 trailers and containers, up 3.5 percent over last year, is a record."
MP: Carload groups that showed strong gains in shipments over last year include metallic ores (+21%), lumber (+10.6%), petroleum products (+16.1%), metals (+16%), and motor vehicles and equipment (+7.4%). Based on the ongoing weekly improvements in weekly rail traffic, the three-year high for U.S. intermodal shipments, and the new record-setting intermodal volume for North America, it seems like it would be really, really hard to make the case for a pending double-dip recession.