Tuesday, March 15, 2011

February LA Port Traffic: Exports weak year-over-year

by Bill McBride on 3/15/2011 04:09:00 PM

The first graph shows the rolling 12 month average of loaded inbound and outbound traffic at the ports of Los Angeles and Long Beach in TEUs (TEUs: 20-foot equivalent units or 20-foot-long cargo container). Although containers tell us nothing about value, container traffic does give us an idea of the volume of goods being exported and imported - and possible hints about the trade report for February. LA area ports handle about 40% of the nation's container port traffic.

LA Area Port Traffic Click on graph for larger image in graph gallery.

To remove the strong seasonal component for inbound traffic, this graph shows the rolling 12 month average.

On a rolling 12 month basis, inbound traffic is up 17% and outbound up 9%.

LA Area Port TrafficThe 2nd graph is the monthly data (with strong seasonal pattern).

For the month of February, loaded inbound traffic was up 7% compared to February 2010, and loaded outbound traffic was up less than 1% compared to February 2010 - and down compared to January 2011. This suggests the trade deficit with China (and other Asians countries) probably increased in February.

Earlier:
Empire State Manufacturing Survey indicates faster growth in March
NAHB Builder Confidence increases slightly in March, Still depressed
Residential Remodeling Index shows strong increase year-over-year

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