August merchandise imports to increase
Home Accents Today Staff -- Home Accents Today, 8/14/2013 10:50:28 AM
Import volume at the nation's major retail container ports is expected to grow 1.7% in August over the same month last year and should continue to see gains through the holiday season and the remainder of 2013, according to the monthly Global Port Tracker report released this week by the National Retail Federation and Hackett Associates. The year is expected to end with a 2.4% increase over 2012.
"As the economy continues to slowly improve, retailers are stocking up for their most important sales season of the year," NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. "Merchants have been very cautious so far this year, but our forecasts show that they plan to make up for it in the next few months."
U.S. ports followed by Global Port Tracker have seen year-over-year declines in cargo every month since March with the exception of May, which saw a 1.6% increase, according to an NRF press release.
"Trade at the ports continues to remain positive, confirming our view that the economy remains on a slow but steady course of recovery," Hackett Associates Founder Ben Hackett said. "The question is whether importers are building up stock ahead of expected sales demand or in response to recently announced freight rate increases."
Global Port Tracker covers the U.S. ports of Los Angeles/Long Beach, Oakland, Seattle and Tacoma on the West Coast; New York/New Jersey, Hampton Roads, Charleston, Savannah, Port Everglades and Miami on the East Coast, and Houston on the Gulf Coast.
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