August Inbound Cargo Sets Record at L.A. Port
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Asia’s export juggernaut continued to steam through Southern California in August, pushing levels of inbound cargo at the Port of Los Angeles to a record high for the second straight month. And, in a potentially positive sign for the nation’s gaping trade imbalance, export levels at the nation’s second-busiest port were higher for the fourth straight month.
In August, the port took in 12% more cargo containers than a year ago. Most inbound cargo is finished consumer goods. Port spokesman Jeff Leong attributed most of the jump to U.S. retailers’ beginning to stock up for what is expected to be a banner holiday shopping season.
Asian demand for U.S. consumer goods and raw materials has begun to turn around somewhat, Leong said. August exports edged up roughly 2% over last year and nearly 3% over July. Much of the increase, he said, came in larger shipments of U.S. retail goods such as citrus fruit and furniture and raw materials such as chemicals.
August container figures for the neighboring Port of Long Beach are expected Friday.
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