Growth in retail imports likely to slow in 2007
Traffic at major container ports used by retailers should continue to grow in 2007 as retailers import more merchandise from abroad, but won’t grow as fast as it did during 2006, according to the National Retail Federation and the consulting firm Global Insight.
'Overall trade growth is expected to be positive but slower compared with the monthly rates we saw in the first half of 2006,' Global Insight economist Paul Bingham said. 'Nonetheless, each month is still expected to see a new record volume for that month.'
The most recent Port Tracker report from NRF and Global Insight said container traffic is expected to grow from 4.6 percent to 7.3 percent once the winter slow season ends this spring — that is for the months March through May, measured against the same months in 2006
That would be slower than the increases of 7 percent to 17.9 percent seen during the same March-May period last year.
Port Tracker covers the West Coast ports of Los Angeles, Long Beach, Oakland, Tacoma and Seattle; and New York-New Jersey, Hampton Roads, Charleston and Savannah on the East Coast. All are rated 'low' for congestion, the same as last month.
Growth in retail imports likely to slow in 2007
