Despite geopolitical tensions and challenges at key maritime routes like the Suez and Panama Canals, U.S. imports in January defied expectations and showed robust growth.Data from Descartes revealed a surprising 7.9% increase in containerized imports compared to December and a 9.9% rise year over year. January typically sees increased imports due to preparations before China’s Lunar New Year, during which manufacturing and port activities in China halt. The surge in Chinese imports benefited West Coast ports, but contrary to expectations, East Coast ports also experienced growth, albeit to varying degrees. The Port of New York and New Jersey saw a significant increase in imports, while smaller ports like Norfolk and Baltimore also saw positive growth. However, some East and Gulf Coast ports experienced sluggish activity, including the Port of Savannah and the Port of Houston, indicating mixed performance in the region.
Inspired by: https://finance.yahoo.com/news/despite-dim-outlook-january-imports-134500190.html