Freight data from rail and truck networks point to strengthening industrial activity in the United States, according to a FreightWaves analysis of the Association of American Railroads' latest Rail Industry Overview.

Total U.S. rail carloads averaged 230,401 per week in March, the strongest March result since 2019 and the highest monthly average since October 2022. Carloads rose 1.7% year over year, marking the third consecutive monthly increase. For the first quarter, carloads totaled 2.68 million, up 4.2% from 2025 and the strongest first-quarter performance since 2019.

The recovery is broad-based: 12 of the 20 major carload categories posted year-over-year gains in March, a pattern that has held since January. Analysts read that breadth as evidence of genuine stabilization and expansion in the underlying goods economy, with chemical shipments standing out as a particularly strong indicator of industrial demand.

Intermodal traffic, which links rail with trucking networks, also improved. Intermodal volume averaged 280,076 units per week in March, the second-highest March level on record, rising 1.4% year over year.

For trucking fleets, the rail figures matter because carload and intermodal volumes track the same industrial inputs, chemicals and manufactured goods that drive truckload and flatbed demand, suggesting freight volumes tied to the goods-producing economy are regaining momentum across multiple sectors.

Source: FreightWaves -- https://www.freightwaves.com/news/rail-and-truck-data-highlight-a-strong-industrial-economy