The National Retail Federation (NRF) forecasts that cargo imports at major U.S. container ports will level off and decline slightly in the second half of 2022, forecasting a 1.5% year-over-year decline. Imports are likely to fall further in 2023 as the U.S. economy slows.
"Retail sales are still growing, but the economy is slowing, and that's reflected in cargo imports," Jonathan Gold, NRF's vice president for supply chain and customs policy, said in the Global Port Tracker (GPT) report released on Monday.
Ports have not yet reported July’s numbers, but Global Port Tracker projected the month at 2.26 million TEU, up 3.2 percent year over year. August is forecast at 2.2 million TEU, down 3 percent; September at 2.15 million TEU, up 0.4 percent; October at 2.13 million TEU, down 3.9 percent; November at 2.06 million TEU, down 2.7 percent, and December at 2.03 million TEU, down 3 percent.
