U.S. railroads in August logged the highest container originations ever and the most total intermodal originations since May 2021, driven by increased port activity and resilient consumer spending, according to the Association of American Railroads.

Also in August, total carloads climbed 0.6%, marking the first year-over-year gain in 2024; excluding coal, carloads rose 5%, the highest growth in 2024, according to the AAR’s September issue of “Rail Industry Overview.”

In August, 14 of 20 carload categories showed gains. AAR officials noted that consumer spending gained momentum in July with growth in goods outpacing services for the third consecutive month, supporting intermodal growth. Meanwhile, manufacturing output continues to trend downward, negatively impacting rail volumes, but easing monetary policies could foster recovery.

In August, U.S. railroads originated 1,131,511 intermodal containers and trailers, up 14.3% over August 2023. Total intermodal volume averaged 282,878 units per week in August, the highest weekly average since May 2021. Container originations averaged 272,756 per week last month, the highest weekly average ever for a month.

Intermodal volumes are being driven by higher activity at our nation’s ports and continued resiliency in consumer spending.

In the first eight months of 2024, U.S. intermodal units totaled 9,094,439, up 9.3%, or 773,807 containers and trailers, over last year. Total carloads averaged 228,814 carloads per week in August, the most since October 2023.

Combined U.S. carload and intermodal originations in August were 2,046,767, up 7.8%, over the same period in 2023. The economic landscape remains fluid with a mix of relatively favorable and unfavorable readings, but there are reasons for cautious optimism.

Contact Progressive Railroading editorial staff.