In terms of total carloads, we’re in a period when the changes are not positive. Total originated carloads on U.S. railroads in the second quarter of 2024 were down 4.8%, or 140,915 carloads, from the second quarter of 2023. That was the biggest year-over-year quarterly percentage decline for total carloads since Q4 2020. ... Total carloads are down due to a decrease in coal carloads. ... Excluding coal, carloads were much better: up 1.7% (11,254 carloads) in Q2 2024 over Q2 2023 and up 0.6% (26,398 carloads) in the first six months of this year over last year.
emphasis added
Click on graph for larger image.This graph from the Rail Time Indicators report shows year-over-year change for Carloads and Intermodal:
U.S. intermodal volume had another good month in June — volume was up 8.7% over last year, the 10th straight year-over-year gain for intermodal.Note that rail traffic was weak even before the pandemic. As AAR noted: "Trade tensions and declining mfrg. output lead to lower rail volumes".