{"id":1704617,"date":"2022-10-20T16:49:49","date_gmt":"2022-10-20T20:49:49","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1704617"},"modified":"2022-10-20T16:49:57","modified_gmt":"2022-10-20T20:49:57","slug":"as-demand-cools-us-container-imports-tumble-sharply","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/as-demand-cools-us-container-imports-tumble-sharply\/","title":{"rendered":"As Demand Cools, US Container Imports Tumble Sharply"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fas-demand-cools-us-container-imports-tumble-sharply%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1704617&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Lisa Baertlein<\/p>\n<p>LOS ANGELES (Reuters)\u2014After more than two years of surging demand, the volume of container imports coming through U.S. ports has tumbled sharply, raising questions about where a sector once tracked as a supply-chain stress point will hit bottom.<\/p>\n<p>Container import volumes across all U.S. ports hit an all-time high in May and pulled back slightly before plunging in August and September. That put the indicator close to the levels last seen in 2019, before the pandemic and a surge in demand for shipments of furniture, clothing and appliances, according to data tracked by Descartes Datamyne.<\/p>\n<p>The question is whether the trendline\u2014an indicator for strength of consumption, the wider economy, and trade\u2014flattens out in the coming months, relieving a source of supply-chain distress that had driven prices higher, or whether the boom turns to an outright bust with a potential recession looming, analysts told Reuters.<\/p>\n<p>Goods packed in ocean containers account for roughly 25% of U.S. imports and many of the purchases made by consumers, whose spending fuels as much as 70% of U.S. economic activity. Volume surged as much as 40% from 2019 levels during the pandemic as retailers raced to meet soaring demand for goods.<\/p>\n<p>That surprise surge clogged ports and spawned cascading delays, leading to delayed deliveries of everything from pharmacy supplies to Peloton exercise bikes. As recently as March, the Biden administration supply chain task force had tracked container imports as part of a &#8220;dashboard&#8221; to monitor the distress in the distribution of goods and a contributor to higher prices.<\/p>\n<p>&#8220;We&#8217;re going back to 2019,&#8221; said transportation economist Walter Kemmsies, who believes consumers are reverting to their historical spending split of 70% on services and 30% on goods.<\/p>\n<p>Spending on services, which had risen during every U.S. recession since 1973, broke that pattern when the U.S. economy slipped into recession in early 2020 with the onset of the COVID-19 pandemic. The resulting drop in spending on that category \u2013 at one point as steep as 14% \u2013 freed up dollars for goods purchases.<\/p>\n<p>Kemmsies said the August and September pullbacks in the volume of container imports are the result of retailers like Walmart and Amazon.com canceling billions of dollars of orders earlier this year. They made that call after shoppers stopped bingeing on sweatpants, sofas, remote school laptops, and big-screen televisions, and shifted to spending on concert tickets, travel, in-restaurant dining, and other services.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LOS ANGELES (Reuters)\u2014After more than two years of surging demand, the volume of container imports coming through U.S. ports has tumbled sharply, raising questions about where a sector once tracked as a supply-chain stress point will hit bottom.<br \/>\nThe post As Demand Cools, US Container Imports Tumble Sharply appeared first on Washington Free Beacon.<\/p>\n","protected":false},"author":66,"featured_media":1704620,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[544],"tags":[],"class_list":["post-1704617","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1704617","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1704617"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1704617\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1704620"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1704617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1704617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1704617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}