AAPA says U.S. trade shows signs of life
November 18, 2010 - LM Editorial
America’s waterborne foreign trade in September continued its rebound from last year’s lows, noted the American Association of Port Authorities (AAPA) yesterday.
Though down from the preceding month, the September data reported by the U.S. Census Bureau shows healthy tonnage increases from a year ago for both imports and exports. January-September was the strongest tonnage quarter of 2010.
“Imports posted their seventh consecutive month of year-on-year growth, thanks in great part to strong demand for petroleum, steel and containerized merchandise, but remained below 2008 levels for the month and the year-to-date,” said AAPA spokesman, Aaron Ellis in an interview.
“Exports posted double-digit gains both from a year ago and from September 2008. In sum, cargo trade, though much improved, hasn’t yet fully recovered from the recession,” Ellis added.
This reflects a recent report issued by the National Retail Federation (NRF) suggesting a soft rebound in U.S. consumer spending.
According to NRF, cooler, seasonal weather in October helped apparel and sporting goods stores’ sales. Clothing and clothing accessory stores sales increased 0.7 percent seasonally adjusted over last month and 1.4 percent unadjusted over last year. Sales at sporting goods, hobby, book and music stores increased 1.0 percent seasonally adjusted month-to-month and 5.9 percent unadjusted year-over-year.
Building material and garden equipment and supplies dealers sales also showed solid growth, increasing 1.9 percent seasonally adjusted month-to-month and 7.3 percent unadjusted over last year. Health and personal care stores sales decreased 0.1 percent seasonally adjusted from September but increased 1.6 percent unadjusted year-over-year.