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US freight volumes slid in November into negative territory for the first time in 2015
THE total volume of freight in the United States moved by road, rail, inland waterways, pipeline, and as air cargo in November 2015 declined by 1.1 per cent compared to the same month a year earlier, according to the US Bureau of Transportation Statistics.
Freight demand growth has been slowing since the start of last year but the slowdown intensified in the second half and November marked the first time that year-on-year growth turned negative, reported Reuters.
Volumes have been hit by a combination of factors, including exports of manufactured products and basic commodities declining owing to a stronger dollar; and manufacturers, wholesalers and retailers cutting new orders as they battle to clear excess inventories built up due to over-ordering in 2014 and early 2015.
Farmers have delayed shipping some grains, especially corn and soy beans, in the hope that prices will recover in future. In addition, coal shipments to power producers fell on account of cheaper natural gas and stricter environmental regulations.
Total traffic on major US railroads was down 2.5 per cent last year, according to the Association of American Railroads (AAR).
Freight demand growth has been slowing since the start of last year but the slowdown intensified in the second half and November marked the first time that year-on-year growth turned negative, reported Reuters.
Volumes have been hit by a combination of factors, including exports of manufactured products and basic commodities declining owing to a stronger dollar; and manufacturers, wholesalers and retailers cutting new orders as they battle to clear excess inventories built up due to over-ordering in 2014 and early 2015.
Farmers have delayed shipping some grains, especially corn and soy beans, in the hope that prices will recover in future. In addition, coal shipments to power producers fell on account of cheaper natural gas and stricter environmental regulations.
Total traffic on major US railroads was down 2.5 per cent last year, according to the Association of American Railroads (AAR).
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