Omaha-based Union Pacific says it expects to haul less freight in the second half of the year than previously predicted.

The railroad said Wednesday the volume of cars, construction materials, grain and imported goods it will haul in the second half of the year will likely be down by a mid-single-digit percentage.

The analysts surveyed by FactSet predicted Union Pacific's volume will fall 3.8% in the third quarter. Union Pacific said in July it expected to haul about 2% less freight during the second half of the year.

Union Pacific has been working to streamline operations and reduce costs, so it should be able to at least partly offset the decline.

The volume of freight Union Pacific and other railroads haul hints at the health of the overall economy.

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