Taps Coogan – July 5th, 2023
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In another warning sign of slowing economic activity, US rail traffic has been slowing considerably this Spring/Summer and, as the following chart from Liz Ann Sonders highlights, has dipped below levels from June 2020.
US intermodal shipping traffic is back below 2020 levels@SoberLook @AAR_FreightRail pic.twitter.com/4ivs0TEjrI
— Liz Ann Sonders (@LizAnnSonders) July 5, 2023
June 2020 was, of course, right after the first nationwide ‘lockdown’ and all types of economic activity were still fairly suppressed. Indeed, we wrote a series of articles in the second half of 2020 noting that 2020 rail volumes did not see year-over-year growth until October. By extension, current rail traffic levels are well below 2019 and 2018 levels.
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