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Outbound container traffic from the Ports of Los Angeles and Long Beach (which account for about 40% of U.S. container traffic) continue to reflect a significant rebound in U.S. goods exports. Indeed, outbound containers shipped from Los Angeles last May were only a few thousand shy of their level of May '08—almost a complete recovery (container traffic is not seasonally adjusted) from the global trade collapse of late 2008. Long Beach shipments, however, were still 13% below May '08 levels, but they do appear to be gaining ground rapidly. Strong export activity is not only good for U.S. growth, it also reflects health in the economies of our trading partners.
1 comment:
I think it is clear that North America's economic future lies with Asia, not Europe. As long as Europe does not collapse, their problems should be contained to their continent. I think these charts of export volumns are good 'tells'.
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