NRF Expects Sharp Increase in Import Volumes in October Despite Shutdown
The National Retail Federation expects import volumes at major U.S. container ports to grow by 9.1 percent in October over the previous year, despite the federal government shutdown, it said in its monthly Global Port Tracker report. The forecast is based on merchandise orders placed before the shutdown as retailers prepare for the holiday season, it said. NRF is predicting holiday sales in 2013 will grow by 3.9 percent over last year. Most holiday season merchandise is brought into the U.S. in August, September and October, NRF said, with those three months accounting for over 25 percent of total annual retail imports.
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
“With the holidays nearly here, retailers are making sure their shelves are well-stocked,” said Jonathan Hold, vice president-supply chain and customs policy at NRF. “Cargo is continuing to move through the ports but the government shutdown has left some agencies short-handed, so NRF will monitor the situation closely as the holidays approach.”