From the Association of American Railroads (AAR) Rail Time Indicators. Graphs and excerpts reprinted with permission. It seems clear that U.S. railroads are facing a freight recession. Total originated U.S. rail carloads fell 4.6% in August 2019 from August 2018, their seventh straight year-over-year decline. The average decline over those…

AAR: August Rail Carloads down 4.6% YoY, Intermodal Down 5.4% YoY