Trade Resources Economy U.S. Imports in September to Remain at Above-Average Levels

U.S. Imports in September to Remain at Above-Average Levels

U.S. imports in September are forecast to remain at above-average levels although off slightly from a record August as retailers continue to stock up inventory ahead of the Holiday season. Import volumes are expected to reach 1.47 million containers this month, down from the record 1.53 million container imports in August, according to the Global Port Tracker. While August imports rose 2.9%, the Sep. forecast puts the import level up 2.4%. For Q4, imports are forecast to increase 5.5% in October to 1.51 million TEU, gain 3.8% in Nov. to 1.39 million TEU and 4.1% in Dec. to 1.37 million TEU.

If those import estimates are met, 2014 imports will end up at 17.1 million TEU, or 5.3% higher than the 16.2 million containers imported in 2013. Meanwhile, talks between the Pacific Maritime Association and Intl. Longshore and Warehouse Union continue in hopes of striking a long-term contract. The most recent PMA-ILWU deal expired July 1, but a tentative agreement on health benefits was reached last month.

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