US Containerized Imports Up 9.7 Percent in July 2012
Faster container import growth forecasted for remainer of 2012 in Journal of Commerce/PIERS market survey. U.S. containerized imports surged 9.7 percent in July from a year earlier, to 1,562,235 twenty-foot-equivalent units, on strong growth in auto parts and furniture. The growth — imports also advanced 6.2 percent over June — marks impressive expansion of the import trade, especially considering last July's year-over-year drop of 5.2 percent, said Mario O. Moreno, economist for The Journal of Commerce/PIERS. Year to date, U.S. containerized imports were up 3.5 percent. Import growth will continue to accelerate during the second half of 2012, said Moreno, who expects full-year growth of 4.6 percent for imports and 2.3 percent for exports.
US Containerized Shipments Down
U.S. Mario O. Moreno, economist for The Journal of Commerce reports that the decline followed a 7.3 percent year-over-year gain in March due, in part, to an early Lunar New Year in China. Year-over-year U.S. containerized imports from Asia declined 1.6 percent in April, with shipments from China at the forefront, down 3 percent, due to reduced footwear, furniture and toy shipments. Chile followed with a surprising drop of 25 percent, while imports from Hong Kong and Belgium fell 11 percent and 17 percent, respectively. Leading the gains were Japan, up 17 percent, and Vietnam, up 14 percent. "Latest import data reinforces the interpretation of a marked slowdown in the economy, induced by a lack of significant job growth. It is only fair to ask, what will the Fed do next?" Moreno said.
Modest U.S. Containerized Import Growth Forecasted
Containerized goods imported into U.S. Driven by a surge in furniture and auto parts shipments to the U.S., containerized imports in Marchrose 7.3% over 2011. This increase to 1,373,301 20-foot equivalent units came on the heels of a 5.9 percent decline in February. "Latest TEU data supports my view of very modest imports growth through the second half of the year," said Mario O. Moreno, economist for the 'Journal of Commerce'. "Although the US economy is showing signs of deceleration, it will likely be momentary as the FED has made it clear it is prepared to do more if conditions worsen. Imports from Asia for the first quarter barely rose 0.5 percent versus Moreno's forecast of 1 percent.
US Container Imports Down Due to Early Chinese New Year
U.S. containerized imports in February fell for the first time in four months on a year-over-year basis, sliding 5.8% to 1,193,157 twenty-foot-equivalent units as demand for furniture, toys and footwear declined on early closing of factories in China and soft consumer spending. The month-to-month drop was even more dramatic, as February imports plunged 18.6 percent from January. While the timing of the Lunar New Year holiday, and related factory closings, made accurate year-over-year comparisons difficult, the 18.6 percent tumble from January suggests weakening volume, said Mario O. Moreno, economist for the Journal of Commerce/PIERS. Prior to the slide, furniture, the largest import commodity group, had been leading an import surge.
