NRF Sees Import Volume ‘Slowly Improving,’ Staying Well Below 2019 Levels
Imports at major U.S. retail container ports are expected to remain significantly below last year’s levels into this fall as the impact of the COVID-19 pandemic continues, the National Retail Federation reported July 8. The COVID-19 recession “may be easing,”…
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but retailers are sourcing goods from overseas more conservatively due to the economic uncertainty, it said. “The outlook for imports is slowly improving, but these are still some of the lowest numbers we’ve seen in years.” U.S. ports handled 1.53 million 20-foot-long cargo containers or their equivalents in May, down 4.8% from April and 17.2% fewer than in May 2019, NRF said. June imports were estimated to be down 5.8% from a year earlier. July is forecast to be down 14.1%, with a 13.3% decline expected in August and a 12.3% decline forecast for September.