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.
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.
Coal is the biggest commodity on the network, accounting for about one-third of total tonnage. (Reuters/NAN)