Investing.com - US Class I railroad carload growth reached 5% year-over-year in week 20, up from 4.2% in week 19, according to Goldman Sachs data released Tuesday.

Intermodal volume growth climbed to 8.3% year-over-year last week from 6.9% the previous week, while ex-intermodal volume growth remained steady at 1.8% compared to 1.7% in week 19.

CSX (NASDAQ: CSX) led US intermodal carload growth at 11.7% year-over-year in week 20, ahead of Union Pacific (NYSE: UNP) at 8.4% and Norfolk Southern (NYSE: NSC) at 5.8%. CSX also posted the highest ex-intermodal carload growth at 2.9%, followed by Norfolk Southern at 2.7% and Union Pacific at 0.5%.

Canadian carload growth accelerated to 3% year-over-year in week 20 from 1.8% in week 19. Canadian National Railway (TSE:CNR) reported carload growth of 4.1% compared to 3.1% the prior week, with ex-intermodal carload growth rising to 7.9% from 5.6%. Intermodal carload growth declined to -1.3% from -0.2%.

Canadian Pacific Kansas City (TSE: CP) total carload growth reached 1.7% year-over-year in week 20 versus 0.1% in week 19. The company's intermodal carload growth increased to 4% from 2.3%, while ex-intermodal carload growth turned positive at 0.3% from -1.3%.

For the second quarter to date, total carload growth for US Class I railroads Union Pacific, Norfolk Southern and CSX is tracking at 3.1% year-over-year, with intermodal carloads up 3.2% and ex-intermodal carloads up 3%. Combined Canadian Pacific and Canadian National carloads are tracking at -0.1% for the quarter to date, with intermodal carloads down 2.5% and ex-intermodal carloads up 1.6%.