Imports into Long Beach have now fallen for two months. Meanwhile, the neighboring port of Los Angeles registered the biggest decline in inbound cargo since the early days of the Covid-19 pandemic …
| Bloomberg
Imports into Long Beach have now fallen for two months. Meanwhile, the neighboring port of Los Angeles registered the biggest decline in inbound cargo since the early days of the Covid-19 pandemic in August. Together, the twin operations handle about 40% of containerized trade with Asia. The most recent data show US consumer spending and retail sales rising at a sluggish pace, a sign that the hottest inflation in almost four decades is starting to take its toll on the economy. Ports had for months been overwhelmed by an influx of goods that triggered supply-chain logjams and delivery delays, but that is showing signs of abating due to logistics improvements and as interest-rate increases are starting to cool demand.
Long Beach is among 29 ports on the US West Coast awaiting the outcome of labor talks between the International Longshore and Warehouse Union — which represents 22,000 dockworkers — and the Pacific Maritime Association, negotiating on behalf of more than 70 employers.
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