May 18, 2020
US retailers are losing hope of any recovery in the autumn, casting serious doubt on the summer peak season in the transpacific arena.
The latest instalment of Global Port Tracker (GPT), which is published on a monthly basis by the National Retail Federation (NRF) in collaboration with international trade consultancy Hackett Associates, predicts US imports to shrink in double digits from May through August, and for September it projects a 9.3% contraction.
The GPT forecast is for a 20.4% drop in imports for May, followed by declines of 18.6% in June, 19.3% in July and 12% in August.
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Source: The Load Star