The Global Port Tracker, which is produced by Hackett Associates for the National Retail Federation, is projecting year-over-year volumes increases at the nation’s major retail container ports in the coming months.
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Ports covered by the Global Port Tracker handled 1.53 million TEUs in March, up 6.8 percent from February and 15.8 percent from March 2016.
Major retail container ports in the United States should see import volumes steadily increase through the summer and into the fall, according to the latest monthly Global Port Tracker report by the National Retail Federation (NRF) and Hackett Associates.
Ports covered by the Global Port Tracker handled 1.53 million TEUs in March, the latest month for which after-the-fact numbers are available, up 6.8 percent month-over-month and 15.8 percent year-over-year.
Looking ahead, the report forecasts the following for each month across ports covered by the Global Port Tracker, compared to the same month in 2016:
• April at 1.56 million TEUs, up 8.3 percent;
• May at 1.66 million TEUs, up 2.6 percent;
• June at 1.62 million TEUs, up 3.3 percent;
• July at 1.68 million TEUs, up 3.1 percent;
• August at 1.74 million TEUs, up 1.6 percent;
• And September at 1.65 million TEUs, up 3.6 percent.
“With unemployment at its lowest level in a decade and the economy adding jobs, retailers expect shoppers to continue to increase their spending,” NRF Vice President for Supply Chain and Customs Policy Johathan Gold said.
“In the United States, the economy continues to slowly grow,” Hackett Associates Founder Ben Hackett said. “Gross domestic product was lower than expected in the first quarter but unemployment has dropped to levels not seen since before the Great Recession and, best of all, labor employment has increased dramatically. Our view, therefore, remains unchanged: There is nothing to worry about in the first half of the year, and growth is expected to continue in the second half even if it comes at a slower rate.”
Global Port Tracker, which is produced by Hackett Associates for the NRF, covers the U.S. ports of Los Angeles, Long Beach, Oakland, Seattle, Tacoma, New York/New Jersey, Hampton Roads, Charleston, Savannah, Port Everglades, Miami and Houston.