Thursday, November 17, 2011

LA Port Traffic in October: Exports increase year-over-year, Imports down

by Calculated Risk on 11/17/2011 08:43:00 PM

The following graphs are for 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 October. LA area ports handle about 40% of the nation's container port traffic.

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

LA Area Port TrafficClick on graph for larger image.

On a rolling 12 month basis, inbound traffic is down 0.6% from September, and outbound traffic is up 0.3%.

Inbound traffic is "rolling over" and this might suggest that retailers are cautious about the coming holiday season.

The 2nd graph is the monthly data (with a strong seasonal pattern for imports).

LA Area Port TrafficFor the month of October, loaded inbound traffic was down 7% compared to October 2010, and loaded outbound traffic was up 3% compared to October 2010.

Exports have been increasing, although bouncing around month-to-month. Exports are up from last year, but are still below the peak in 2008.

Imports have been soft - this is the 5th month in a row with a year-over-year decline in imports.

All current trade graphs

Earlier:
Weekly Initial Unemployment Claims: Four Week average falls under 400,000
MBA: Mortgage Delinquencies decline slightly in Q3
Q3 MBA National Delinquency Survey: Comments and State Data
Philly Fed: "Regional manufacturing is expanding, but at a slow pace"
Housing Starts decline slightly in October
Multi-family Starts and Completions, and Quarterly Starts by Intent