(snip)"Slipping imports reflect slowing economy
The falloff of goods from toys to kitchen tiles flowing into the L.A., Long Beach and other ports stuns observers.
By Ronald D. White and Leslie Earnest, Los Angeles Times Staff Writers
October 9, 2007
Cargo containers crammed with foreign-made goods that were supposed to set a record in August at major U.S. ports took an unexpected turn, with imports sinking 1.4% in another sign of the slowing of the economy.
Imports of items as diverse as toys and tiles could also be lower in September and October, when retailers will be stocking shelves for the holidays, because shell-shocked shoppers are expected to continue to pull back.
The falloff "reflects the consumer-demand-driven weakness in the U.S. economy," said Paul Bingham, an economist with Global Insight, a research firm that monitors cargo movements for the nation's top retailers.
The slump in oceangoing imports unloaded at the 10 largest U.S. container ports in August was the first drop since Global Insight began its monthly Port Tracker report in 2005. The number stunned some port watchers.
"When I first saw these numbers, I called the researchers and asked them if they had left a column out of the spreadsheet. I thought it was a typo," said Craig Shearman, vice president of the National Retail Federation, which pays Global Insight to conduct the trade research.
In Fountain Valley, Gary Bedrosian wasn't surprised. The owner of Bedrosian Tile & Stone said he had cut orders by about 15% this year compared with 2006 because new-home construction has plummeted."(snip)
"(snip)The change has been clearly reflected at the ports of Los Angeles and Long Beach -- by far the nation's busiest gateway for container cargo trade.
From 1997 through 2006, the number of containers handled by the twin ports grew by about 10% a year -- from 6.5 million 20-foot containers to 15.8 million. But through August, the two ports were running less than 1% ahead of last year's record pace of imports and exports.
"It doesn't appear that there will be any real growth this year," said Don Snyder, director of trade relations for the Port of Long Beach.
Imports of building materials plunged 20% in the second quarter from year-earlier figures, the most recent period for which detailed statistics are available. Furniture imports fell 17%, clothing declined 10% and footwear was down 8%, he said."(snip)



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