After experiencing one of the lowest levels of import cargo volume since the pandemic began, major container ports in the United States are expected to see a slow climb in import cargo volume, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.
While the final numbers for February have yet to be reported, Global Port Tracker projected an “unusually large” drop to 1.56 million TEUs, down 26.2% compared to the previous year and 13.6% below January levels. This would make February the slowest month since May 2020, when many factories in Asia and U.S. stores were closed due to the pandemic. However, it is important to note that February is typically the slowest month of the year due to Lunar New Year factory shutdowns in Asia and retailers’ lull between the holiday season and spring shopping.
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