Imports to ‘Slow Significantly' for Rest of 2022, Says NRF
Retail imports at major U.S. container ports are expected to “slow significantly” for the rest of the year, but 2022 should still have a net gain over 2021, reported the National Retail Federation Monday. “Retail sales are still growing, but…
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the economy is slowing down and that is reflected in cargo imports,” said Jonathan Gold, NRF vice president-supply chain and customs policy. “Lower volumes may help ease congestion at some ports, but others are still seeing backups and global supply chain challenges are far from over.” NRF’s “biggest concern” is the potential for disruption because of labor negotiations at the West Coast ports and the freight railroads, he said: “Concluding both sets of negotiations without disruption is critical as the important holiday season approaches.” U.S. ports handled 2.25 million 20-foot-long containers or their equivalents in June, said NRF, down 5.9% from the record 2.4 million in May but up 4.9% year over year. June’s results brought first-half imports to 13.5 million containers, a 5.5% increase from January-June 2021, it said.