U.S. rail freight falls as industrial economy struggles – Kemp

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London  –  Freight carried by major U.S. railroads fell by seven per cent in the second quarter of 2015 compared with the same period in 2014.

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This development confirmed that large parts of the industrial economy are in recession, media report said on Tuesday.

The major first class railroads carried 431 billion ton-miles of freight in the three months ending June, down from 463 billion ton-miles in 2014, according to the U.S. Surface Transportation Board.

Changes in freight volumes reflect broader difficulties in the industrial economy.

Rail operators have been struck by a perfect storm which has hit both their traditional and new business lines.
Coal shipments to power plants have been hit by a combination of environmental regulations and low gas prices.
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Coal is the biggest commodity on the network, accounting for about one-third of total tonnage. (Reuters/NAN)


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