Retail Imports Could Hit Record High Despite Slowing Growth
The rate of import growth at the nation’s major retail container ports has begun to slow after double-digit surges earlier this year, but volume should nonetheless hit an all-time high by the end of the summer, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.
“Year-over-year comparisons are slowing down but that’s largely because we had some unusual numbers early this year and strong volume in the second half of last year,” said Jonathan Gold, NRF vice president for supply chain and customs policy. “Despite that, we’re expecting some of the largest import volumes we’ve ever seen, and that’s because retailers are responding to strong consumer demand.”