U.S. Containerized Imports Down 1.5 Percent For August, Eastbound Trans-Pacific Trade Fell 3.8 percent

NEWARK, N.J., Sept. 29, 2011 /PRNewswire/ -- A troubled housing market led to a 1.5 percent year-over-year drop in U.S. containerized imports for August, as shipments of furniture, appliances and home goods fell, according to The Journal of Commerce/PIERS, a sign that demand in the U.S. is weakening heading into the fall.  

(Photo:  http://photos.prnewswire.com/prnh/20110929/NY77877 )

Compared to the previous month, overall imports rose 7.9 percent, but the year-to-year drop was the third straight month of decline. Without any solid indications of job growth in the private sector, Mario O. Moreno, economist for The Journal of Commerce/PIERS, predicts total containerized imports will end the year just 2.7 percent above 2010 totals.

"Sales of new homes fell for four successive months through August, as prices of existing homes up for sale are perceived to be more affordable, discouraging home builders to request more permits and prying the economy of a much-needed support," said Moreno. "A healthy housing market is key in the revival of U.S. box imports as many of the goods consumers purchase to furnish a home are imported. We already have ultra-low mortgage rates, and homes are relatively more affordable, but the consumer can't take advantage of this mainly because of lack of jobs."

Eastbound trans-Pacific trade fell 3.8 percent in August year over year, following a drop of 5.3 percent in July. Year to date, through August, overall U.S. containerized imports increased 4.4 percent.

A full analysis of the JOC/PIERS findings is available online at www.joc.com.

To become a member of The Journal of Commerce click here. JOC members have access to our weekly print and digital magazine and Web site, as well as a 10 percent discount on all JOC events and trade shows, UBM Global Trade Directories and select PIERS products. Authoritative editorial content in the form of daily news, weekly analysis and regular features ensure our members have the information and data necessary to understand the issues facing trucking, rail and maritime transportation. Members enjoy access to "By the Numbers," an exclusive weekly compilation of key industry statistics that provides detailed views of current market trends across all modes. Regular market intelligence reports -- utilizing PIERS trade data -- include Top 100 Imports and Exporters, quarterly Top 40 Container lines, Trans-Pacific and Trans-Atlantic Maritime Forecasts and Top Container Ports and Terminals. Market-sector supplements, including Breakbulk, Cool Cargoes, 3PL, JOC Guide to Trucking and others, ensure all modes are comprehensively covered. 

About PIERS -- PIERS is the most comprehensive database of U.S. waterborne trade activity in the world providing information services to thousands of subscribers globally. Launched more than 35 years ago, PIERS was the first venture in digital global trade intelligence and quickly became the industry standard for accuracy, reliability and insight. Our unique infrastructure and proprietary technology allow us to not only publish import data but also complete coverage of U.S. export transactional data. PIERS is a division of UBM Global Trade, and a sister company of The Journal of Commerce.  For more information, visit www.piers.com, or call 800-952-3839 (+1-973-776-8660).

About UBM Global Trade -- UBM Global Trade is the leading provider of proprietary data, news, business intelligence and analytical content supporting commercial maritime, rail, trucking, warehousing and logistics industries worldwide. The company's portfolio of more than 100 online, print and interactive workflow business solutions includes The Journal of Commerce, Breakbulk, RailResource, PIERS and an array of international trade and transportation databases and directories. UBM Global Trade, a subsidiary of UBM LLC, is headquartered in Newark, NJ, with offices throughout the United States. For more information, explore www.ubmglobaltrade.com or call 800-223-0243 (+1-973-848-7250 outside the U.S. or Canada).  

Contact:
Mario O. Moreno, Economist
The Journal of Commerce/PIERS
+1-973-776-7850, [email protected]

SOURCE The Journal of Commerce & PIERS

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