United States containerised imports fall off in July, declining 5.4pc
JULY's American containerised imports fell 5.4 per cent year on year to 1,432,602 TEU, according to PIERS data. Thursday, 25.Aug.2011, 07:48 (GMT+3)
JULY's American containerised imports fell 5.4 per cent year on year to 1,432,602 TEU, according to PIERS data.
Furniture, 10 per cent of total container imports and closely tied to home sales, declined eight per cent, said PIERS data. Sheets, towels and blankets were down 13 per cent. Kitchenware fell 12 per cent, while lamps and parts were off eight per cent as were toys, down 18 per cent; computers, down nine per cent, clothing, down 4.5 per cent and footwear, down three per cent.
Second quarter imports rose four per cent, noted Journal of Commerce economist Mario Moreno, who expects imports to rise or fall no more than one per cent in the third quarter and to rise 1 to 2.5 per cent in the fourth quarter.
But auto parts were up 14 per cent, and tyres increased seven per cent. Carmakers, explained Mr Moreno, because of efforts to catch up after the supply chain disruptions following the Japanese earthquake in March, giving auto sales a better-than-expected boost.
Imports from China, which account for nearly half of American containerised imports, fell 6.5 per cent to 689,632 TEU in July. Second-ranked South Korea fell 10.6 per cent to 57,027 TEU. Imports from No 4 Hong Kong fell 16 per cent to 41,396 TEU.
Imports from No 3 Japan rose 3.6 per cent to 46,706 TEU. Other countries showing increases included India, up 7.4 per cent to 33,190 TEU and Italy, up 5.9 per cent to 29,294 TEU.
Mr Moreno said he expects to lower his full year forecast within a range of 2.5 to 3.5 per cent from his previous prediction of 4.7 per cent, adding that these numbers indicate an "anaemic" build up to the annual peak season.