German Rail Cargo Traffic Posts Biggest Decline Since 1950

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Monday, Germany's Federal Statistical Office announced that the goods transported by railway decreased 22.4% year-on-year to 147.3 million tonnes in the first half of 2009 from 189.8 million tonnes recorded a year ago. This was the biggest decline since the series started in 1950.

Meanwhile, the transport performance in tonne-kilometers declined 22.8% in the first six months of the year. .

The impact of economic crisis on the demand for rail freight transport has been witnessed since November 2008, the Destatis said.

The German economy grew slightly for the first time in the second quarter, following four quarter-on-quarter decreases in a row. The economy expanded 0.3% sequentially in the second quarter, after contracting 3.5% in the first quarter.

Monday, Germany's Federal Statistical Office announced that the goods transported by railway decreased 22.4% year-on-year to 147.3 million tonnes in the first half of 2009 from 189.8 million tonnes recorded a year ago. This was the biggest decline since the series started in 1950. (Market News Provided by RTTNews)