Wednesday, January 20, 2010

LA Port Shipping: 2009 Ends Strong on Exports

SAN PEDRO, Calif. — "The total number of containers shipped through the Port of Los Angeles in December increased slightly compared to the previous year, giving December numbers the only year-over-year monthly increase of the entire calendar year (see top chart above). The volume of loaded outbound containers in December also continued to climb, fueling more speculation that the international container trade will start to recover in 2010.

The total number of Twenty-Foot Equivalent (20-foot containers or “TEUs”) imported and exported through the Port of Los Angeles in December was 562,990, a 0.35% increase compared to 561,033 TEUs in December 2008. Loaded container exports were up a whopping 40.23% at 153,836 TEUs compared to 109,704 TEUs in December 2008 (see bottom chart above)."

MP: The year-over-year percentage shipping increase for the L.A. Port in December reached a 16-month high, the highest since August 2008. Likewise, export volume from the L.A. Port reached a 16-month high in December of 153,836 TEUs, the highest monthly export volume since August of 2008.


At 1/21/2010 2:13 AM, Anonymous Anonymous said...

I posted above: I had to add: Of course the West Coast looks like an upward trend because AMERICA produces NOTHING anymore. Your chart will drop to 2002 levels in no time as consumers reign debt except for essentials. That is what you are seeing on the west coast. People stopped spending Oct 2008, now they have to replenish what they didn't buy that isn't produced here. It won't go up from there. Too much fear. Now it is shop and select but as unemployment grows, that trend will be downward. You idiots think you can get this stuff from a book. This next depression is gonna make the first one look like a credit party and probably change the social dynamics of the country to Facism. We will see in the next two years. Mark my words.

At 1/21/2010 5:51 AM, Blogger OA said...

So I guess that's one vote for a double dip recession.

Zero percent year over year growth is a little weak when coming off a low level. Kinda like the vehicle sales, although those were at levels not seen in decades. LA containers look to be back at 2002/2003 levels.

But what's that spike in exports in 2008? Were businesses unloading excess goods overseas as the US economy slowed? It's a big increase in a short period.

At 1/21/2010 7:55 AM, Blogger juandos said...

Hmmm, I'm wondering if this is due to the cut in corporate tax rates finally coming to fruition?

None the less over at Bloomberg they have the following: Roubini Says Stock Rally May End Amid Muted Recovery

A global rally in stocks may end in the second half of the year amid a muted recovery in the world’s largest economies and as deflationary pressures limit gains in corporate earnings, Nouriel Roubini said....

At 1/21/2010 10:50 AM, Anonymous gettingrational said...

Import container counts is so last century: Consumption>Income

Export container counts hopefully becoming the new century metric:

At 1/21/2010 11:17 AM, Anonymous morganovich said...

container counts is only a relevant metric is the value per volume is constant. if we send out a container full of intel processors and get back one full of taiwanese computers, ours was worth a great deal more.

this limits the usefulness of counts as a metric.

oh, and in case you missed it, the jobs number is out, and it stinks.

dr perry, i love the blog, but i think you would increase its credibility if you included the bad economic news as well as just the positive items, particularly after the big deal you have made about ignoring weekly jobs numbers because the 4 week avg was still up and it has now turned down.

WASHINGTON (AP) -- The number of newly-laid off workers seeking jobless benefits unexpectedly rose last week, as the economy recovers at a slow and uneven pace.

Layoffs have slowed and the economy began to grow in last year's third quarter, but companies are reluctant to hire new workers. The unemployment rate is 10 percent and many economists expect it to increase in the coming months.

The Labor Department said Thursday that initial claims for unemployment insurance rose by 36,000 to a seasonally adjusted 482,000. Wall Street economists expected a small drop, according to Thomson Reuters.

The four-week average, which smooths fluctuations, rose for the first time since August, to 448,250.

The weekly claims figure is volatile and it can take time for trends to emerge. A Labor Department analyst said that much of the increase last week was due to administrative backlogs leftover from the winter holidays in the state agencies that process the claims.

At 1/21/2010 12:09 PM, Blogger Mark J. Perry said...

Morganovich: See new post on jobless claims.

At 1/21/2010 12:43 PM, Anonymous Benny "Tell It LIke It Is Man" Cole said...

I enjoy your posts, but no recession ever ends with all indicators exactly changing to positive direction in unison. There are glitches, minor setbacks, data chatter etc.

The Big Q is will the trends continue? I say yes, as the Fed is easy and the bulk of stimulus spending is yet to hit. And this recession is over already in the Far East and in most of Europe.

Actually, a lot of what we ship out through the ports is cardboard. Lots of raw commodities. China has become the globe's manufacturing platform.


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