Friday, October 9, 2009
This is an update of a chart I've shown several times before. I originally posted it because there had been a surge in outbound container shipments in the ports of Los Angeles and Long Beach, and I thought that presaged a rise in goods exports in general, and that was all good news for the economy. I thought there might be a lag of a month or two between container data and official export data, but now it looks to have been a bit more than that. Exports still seem a bit low given the continuing strength in the container data, so I think that means that we will see ongoing improvement in the export data in the months to come, and that will contribute to stronger GDP data.
Posted by Scott Grannis at 9:06 AM