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            october 23, 2017

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Indiaexportnews.com

US imports set second record

  12.10.2017    

Imports set a second all-time monthly record high as US retailers brought in merchandise for the busy holiday season, and are continuing at unusually high levels this month, according to the monthly Global Port Tracker from the National Retail Federation and Hackett Associates.
"When imports break records two months in a row, it's hard to see that as anything other than a good sign about what retailers expect in consumer demand," said NRF vice president Jonathan Gold said.
"Consumers are buying more, and everybody from dockworkers to truck drivers are trying to keep up. We hope this is a sign of a strong holiday season for retailers, shoppers and our nation's economy," he said.
Ports covered by Global Port Tracker handled 1.8 million TEU in August, the latest month for which after-the-fact numbers are available.
The volume was the highest recorded since NRF began tracking imports in 2000, topping the previous record of 1.78 million TEU set just one month earlier in July.
The record before that had been 1.73 million TEU in March 2015. August was up 1.4 per cent over July and 5.6 per cent over August 2016.
September was estimated at 1.65 million TEU, up 3.7 per cent from last year, and October is forecast at 1.72 million TEU, up 2.8 per cent. While not a record, the October number would be one of only six times in the report's history that the monthly total has hit 1.7 million TEU or higher. November is forecast at 1.62 million TEU, down 1.7 per cent from last year, and December is forecast at 1.59 million TEU, up 1.3 per cent.
Growth has slowed from the first half of the year but 2017 is expected to total 19.8 million TEU, topping last year's previous record of 18.8 million TEU by 5.4 per cent. That compares with 2016's 3.1 per cent increase over 2015. The first half of 2017 totalled 9.7 million TEU, up 7.5 per cent from the same period in 2016.
January 2018 is forecast at 1.64 million TEU, down two per cent from January 2017, and February is forecast at 1.58 million TEU, up 10 per cent from the same month in 2017.
The import numbers come as NRF is forecasting that 2017 retail sales will grow between 3.2 and 3.8 per cent over 2016 and that this year's holiday sales will grow between 3.6 and four per cent.
Cargo volume does not correlate directly with sales because only the number of containers is counted, not the value of the cargo inside, but nonetheless provides a barometer of retailers' expectations.
"The volume of containers imported through August continues to grow and we expect this to continue through October before a slack period arrives as the holiday season inventory build up comes to an end," Hackett Associates Founder Ben Hackett said.
"We do expect growth in imports to slacken off in the coming year, but it will still remain positive."
Global Port Tracker covers Los Angeles/Long Beach, Oakland, Seattle-Tacoma, New York/New Jersey, Hampton Roads, Charleston, Savannah, Port Everglades and Miami and Houston.



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