US Department of Commerce statistics show that personal consumption in the us reached record levels in October 2021, with consumption of services nearing the pre-pandemic levels, and consumption of goods continuing to increase.
The latest issue of the Sea-Intelligence Sunday Spotlight analysed the figures which showed that non-durable goods plateaued at a higher level after the initial impact of the pandemic, whereas durable goods plateaued at a higher level, followed by an upwards spike in early 2021, followed by a down-shift to that higher plateau.
'Diving into even more detail of the durable goods we see an increase and a subsequent sharp decrease in motor vehicles and parts, with the decline caused by shortages of computer chips, and not due to container shipping supply chain issues,' commented Alan Murphy, CEO, Sea-Intelligence.
'However, that decline, which largely does not impact container shipping, is compensated by the continued increase in recreational goods and vehicles and other durable goods, items which are overwhelmingly moved in containers.'
Video, audio, and photographic goods were the main driver within the recreational good sector.
In the other durable goods category, the growth is primarily driven by telephones and communication equipment, as well as jewellery and watches.
In the furniture and furnishings category, there was a slightly declining trend for furniture, and a slightly increasing trend for the consumption of glassware, tableware, and household utensils.
'One context to think this into, is the current supply chain issues. The extremely high freight rates combined with capacity shortages is increasingly favouring the shipment of goods which are smaller - and this is likely a key component underlying the decline in furniture,' Mr Murphy explained.
SeaNews Turkey
The latest issue of the Sea-Intelligence Sunday Spotlight analysed the figures which showed that non-durable goods plateaued at a higher level after the initial impact of the pandemic, whereas durable goods plateaued at a higher level, followed by an upwards spike in early 2021, followed by a down-shift to that higher plateau.
'Diving into even more detail of the durable goods we see an increase and a subsequent sharp decrease in motor vehicles and parts, with the decline caused by shortages of computer chips, and not due to container shipping supply chain issues,' commented Alan Murphy, CEO, Sea-Intelligence.
'However, that decline, which largely does not impact container shipping, is compensated by the continued increase in recreational goods and vehicles and other durable goods, items which are overwhelmingly moved in containers.'
Video, audio, and photographic goods were the main driver within the recreational good sector.
In the other durable goods category, the growth is primarily driven by telephones and communication equipment, as well as jewellery and watches.
In the furniture and furnishings category, there was a slightly declining trend for furniture, and a slightly increasing trend for the consumption of glassware, tableware, and household utensils.
'One context to think this into, is the current supply chain issues. The extremely high freight rates combined with capacity shortages is increasingly favouring the shipment of goods which are smaller - and this is likely a key component underlying the decline in furniture,' Mr Murphy explained.
SeaNews Turkey
