18 January 2001, 10:52 Import and export volumes fell sharply in November and December
Import and export volumes fell sharply in November and December
from prior months but remained elevated from a robust year-ago period,
suggesting a "normal" seasonal downturn, say cargo and port executives.
The nation's two largest ports saw a sharp 15% drop in import volumes
and a 5% decline in export volumes during November from October -- but
together saw gains of 7.3% inbound and 2.8% outbound from a year ago.
December trade flows fell a bit further from November, but were also
elevated vs. the prior year, with seasonal fluctuations accounting for
the flatter showing, they say. Import flows were actually quite
impressive given the comparison to a year ago when Y2K
inventory-building meant especially robust cargo volumes entering U.S.
ports into early January, they add. Given these circumstances, many are
feeling surprisingly positive about 2001 and are downplaying concerns
about a looming recession.
© 1999-2024 Forex EuroClub
All rights reserved