June intermodal volumes post gains, at a lower rate

June intermodal volumes saw another month of growth, according to data provided to LM by the Intermodal Association of North America (IANA).

Total June volume, at 1,474,774 units—increased 3.2% annually, which was below the annual gains, in terms of percentages, of March, April, and May, at 6.7%, 12.0%, and 8.8%.

Domestic containers, at 690,538 were up 1.8% annually, while trailers, at 47,941 fell 23.6%. All domestic equipment, which is comprised of domestic containers and trailers, fell 0.3%, to 738,479 units, and ISO, or international, containers, came in at 736,295 for a 7.0% annual increase.

On a year-to-date basis through June, IANA reported that total intermodal volume is up 8.3% annually, to 8,760,977 units. Domestic containers are up 4.2% annually, to 4,058,980, and trailers were down 22.8%, to 290,323. All domestic equipment, at 4,349,303, is up 1.8%. ISO containers, at 4,411,674, rose 15.6%.

The year-to-date growth rate is in line with the first quarter, which saw an 8.8% annual increase, which saw growth for the second consecutive quarter, after eight straight quarters of annual declines.

In its Q1 “Intermodal Quarterly” report, IANA explained that despite high interest rates, moderating—but lingering—inflation, and fears of a consumer spending and industrial production pullback, the U.S. economy remained surprisingly resilient in the first quarter, coupled with the March ISM Manufacturing Index growing in March, for the first time since September 2022. And it added that consumer spending “continued to work down bloated inventories, driving imports in the face of trade disruptions in the Red Sea and at the Panama Canal.”