Panjiva data shows slight shipment growth from October to November
Slight signs of economic stability appeared to take hold on the global trade front from October to November, according to data from Panjiva, an online search engine with detailed information on global suppliers and manufacturers.
Panjiva reported that the number of United States-bound waterborne shipments—at 1,029,789—was up 0.2 percent from October to November and up 2 percent year-over-year.
This is up a tad from the 0.2 percent decline in shipments from September to October. Shipments have been up 4 times in the past 8 months. In 2010, 2009, 2008, and 2007 October to November shipments were up 4 percent, down 1 percent, flat and down 1 percent, respectively, said Panjiva.
The number of manufacturers shipping to the U.S. from October to November, according to Panjiva, was 146,843 and up 3 percent from the same timeframe a year ago and flat annually.
In an interview with LM, Panjiva CEO Josh Green said when looking at the data from the August to September timeframe, it looks like buyers delayed their orders and spread shipments out over the fourth quarter more than in previous years, which have typically seen early and substantial spikes followed by quick drop-offs.
“This suggest that overall volumes in this holiday season—despite some early concerns—were relatively solid,” said Green. “This also speaks to a more cautious approach to inventory management and uncertainty in the macroeconomic environment, with buyers waiting to get more clarity and hoping to see which direction the economy was heading in before eventually having to pull the trigger.”
Meanwhile, concerns over the European economy and the fate of the Euro are still prevalent and still feels very unpredictable, according to Green.
And on the retail sales and consumer spending front, he explained that the holiday sales season is decent but not great.
“This will give buyers some degree of confidence that the economy is at least steadying a bit and giving them a little bit of confidence when placing orders,” noted Green.
While the holiday sales season was not nearly enough to declare that the economy is back on track, Green said all eyes will return to the jobs picture to gauge future economic growth. The reason being that if there is any type of sustained job growth, buyers will subsequently feel more confident about having more customers for the products they are importing.