North American rail volumes have fallen both week-over-week and year-over-year in the face of the coronavirus pandemic. The fall comes as nonessential businesses close up shop and consumers become less inclined to spend money in light of a likely recession.
Still, North American railroad leaders believe that the industry is resilient and have reported ongoing demand for rail services.
“For the most part, we have seen there is ongoing demand for transporting goods by rail. While rail demand in some industries, such as energy, has decreased in recent months, the majority of business sectors we serve are as strong as ever,” OmniTRAX Director of Business Development Chris Richter said.