top of page
Search
  • Writer's pictureStephen Fodor

Retailers Hold Out Hope on Consumer Spending


Monday Morning Wake Up Call – July 13, 2020

US retailers hold out hope

US retailers raised their expectations for imports May through October on the belief consumers will step up purchases, albeit slowly.

The Global Port Tracker, published monthly by the National Retail Federation (NRF) with Hackett Associates, projects total imports for the period will be 9.94 million TEU; that’s 0.7 percent higher than in its June forecast.

“The outlook for imports is slowly improving, but these are still some of the lowest numbers we’ve seen in years,” Jonathan Gold, vice president for supply chain and customs policy at NRF, said in a statement.

You can read more here: https://www.joc.com/port-news/us-ports/us-retailers-upgrade-import-forecast-maintain-caution_20200708.html


US importers from Asia are turning more to non-vessel operating carriers

US containerized imports from Asia in the first half of 2020 are projected to be down 9.3 percent from the first six months of 2019. That is slightly better than the 10 percent decline Global Port Tracker projected in June.

Imports from Asia declined 9.8 percent in January through May from the year-ago period, according to the latest numbers from PIERS, a JOC.com sister company within IHS Markit. GTA Forecasting, which is part of IHS Markit, forecasts that US imports from Asia in calendar year 2020 will decline 7.6 percent from last year.

To read more: https://www.joc.com/maritime-news/container-lines/us-importers-asia-rush-nvos-amid-tight-capacity_20200625.html

Don’t miss out! If you want more information simply email us at info@tradelogicintl.com.

13 views0 comments

Recent Posts

See All

Importer Pleads Guilty to Duty Evasion

The owner of a U.S. based import business faces a maximum penalty of five years in prison, a $250,000 fine, a three-year term of supervised release, and a payment of $1,090,000 in restitution. The imp

Subscribe to My Linkedin Newsletter

To help you keep up to date on topics the impact the U.S. international trade community, be sure to read my latest newsletter and subscribe for future updates too. https://www.linkedin.com/posts/trade

Section 301 Duty Exclusions Set to Expire on 12/31/23

Unless Congress acts quickly, the duty exclusions currently in place for certain products imported from China are set to expire on Dec. 31st. Importers who currently enjoy these exclusions on their pr

Comments


  • Twitter
  • LinkedIn
  • Facebook
  • YouTube
  • Instagram

need assistance from a licensed CUSTOMS broker?

Thanks for submitting!

bottom of page