carloads have shown an 82% correlation with U.S. Industrial Production while Canadian econ-sensitive carloads have exhibited a 71% correlation with Canadian Industrial Production. Figure 57: YoY change in U.S. aeon. sensitive carloads (RHS) vs. Industrial Production (LHS) 15% 10% 5% 0% .Litel (5%) (10%) (15%) (20%) C