Press Release:
Retail Container Imports Expected to Increase 4.8 Percent in June
WASHINGTON, June 12, 2012 – Import cargo volume at the nation’s major retail container ports is expected to increase 4.8 percent in June compared with the same month last year, and year-over-year increases are expected to continue into the holiday season shipping cycle, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
“Retail sales have seen 22 straight months of year-over-year sales increases, and these import projections suggest retailers should see growth into the two-year mark and beyond,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said.
“Cargo numbers don’t correlate directly into sales numbers, but they are an indicator of how much retailers think they can sell.”
U.S. ports followed by Global Port Tracker handled 1.23 million Twenty-foot Equivalent Units in April, the latest month for which after-the-fact numbers are available. That was up 3.9 percent from March and 1.5 percent from April 2011. One TEU is one 20-foot cargo container or its equivalent.
May was estimated at 1.29 million TEU, up 0.5 percent from a year ago, and June is forecast at 1.31 million TEU, up 4.8 percent from the same time last year. July is forecast at 1.36 million TEU, up 2.5 percent; August at 1.42 million TEU, up 7.3 percent; September at 1.45 million TEU, up 9 percent, and October at 1.53 million TEU, up 19.9 percent over unusually low numbers last year.
The first half of 2012 should total 7.3 million TEU, up 2 percent from the same period last year. The total for 2011 was 14.8 million TEU, up 0.4 percent from 2010’s 14.75 million TEU. NRF projects 2012 retail sales will grow 3.4 percent to $2.53 trillion.
“Consumer demand for durables has been weak for quite some time and dropped further in May, yet at the same time consumer confidence is at its highest level since 2007,” Hackett Associates founder Ben Hackett said. “Confused? So is the average consumer.”
Global Port Tracker, which is produced for NRF by the consulting firm Hackett Associates, covers the U.S. ports of Long Angeles/Long Beach, Oakland, Seattle and Tacoma on the West Coast; New York/New Jersey, Hampton Roads, Charleston and Savannah on the East Coast, and Houston on the Gulf Coast. The report is free to NRF retail members, and subscription information is available at www.nrf.com/PortTracker or by calling (202) 783-7971. Subscription information for non-members can be found at www.globalporttracker.com.
About NRF
As the world’s largest retail trade association and the voice of retail worldwide, NRF represents retailers of all types and sizes, including chain restaurants and industry partners, from the United States and more than 45 countries abroad.
Retailers operate more than 3.6 million U.S. establishments that support one in four U.S. jobs – 42 million working Americans. Contributing $2.5 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF’s Retail Means Jobs campaign emphasizes the economic importance of retail and encourages policymakers to support a Jobs, Innovation and Consumer Value Agenda aimed at boosting economic growth and job creation. www.nrf.com
Hackett Associates provides expert consulting, research and advisory services to the international maritime industry, government agencies and international institutions.
