Import cargo volume at the nation’s major retail container ports is expected to increase 3.3 percent this month over the same time last year as retailers make final preparations for the holiday season, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
News / Industry News
“The U.S. LEI suggests economic growth will remain moderate into the New Year, with little reason to expect growth to pick up substantially,” said Ataman Ozyildirim, Director of Business Cycles and Growth Research at The Conference Board. “Average working hours and new orders in manufacturing have been weak, pointing to more slow growth in the industrial sector. However, employment, personal income and manufacturing and trade sales have all been rising, helping to offset the weakness in industrial production in recent months.” – www.conference-board.org
Total nonfarm payroll employment increased by 142,000 in September, and the unemployment rate was unchanged at 5.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care and information, while mining employment fell.
Institute for Supply Management
Economic activity in the manufacturing sector expanded in September for the 33rd consecutive month, and the overall economy grew for the 76th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
American Trucking Associations
American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index declined 0.9% in August, following a revised increase of 3.1% during July. In August, the index equaled 134.2 (2000=100), down from 135.3 in July. The all-time high of 135.8 was reached in January 2015.
North American shipment volume and expenditures dropped for the second month in a row as the summer slowdown hit. The drop in freight spending was sharper than expected, however, as truck spot prices fell lower due to abundant capacity. The decline in shipments did not follow the typical upward movement in August, but given the weak level of new manufacturing orders placed in June and July it is not unanticipated. GDP growth was strong overall during the first half of the year, with a 3.7 percent growth rate in the second quarter and a 0.6 percent growth rate in the first.
Import cargo volume at the nation’s major retail container ports is expected to increase 1.2 percent this month over the same time last year as retailers head toward the holiday season, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
“After supply chain worries earlier this year, inventories are plentiful this fall,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Shoppers should have no worries about finding what they’re looking for as they begin their holiday shopping.”
The U.S. Customs & Border Protection announced this week they are delaying the mandatory migration date of the Automated Commercial Environment (ACE) to February 2016. Please keep in mind these two deadlines:
- November 1, 2015 is the beginning of the transition period for using ACE for all electronic cargo release and related entry summary filing.
- February 28, 2016 is the mandatory use date of ACE for all remaining electronic portions of the CBP cargo process, as ACS will no longer be available.
Institute for Supply Management
Economic activity in the manufacturing sector expanded in August for the 32nd consecutive month, and the overall economy grew for the 75th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
“The U.S. LEI fell slightly in July, after four months of strong gains. Despite a sharp drop in housing permits, the U.S. LEI is still pointing to moderate economic growth through the remainder of the year,” said Ataman Ozyildirim, Director of Business Cycles and Growth Research at The Conference Board. “Current conditions, measured by the coincident economic index, have been rising moderately but steadily, driven by rising employment and income, and even industrial production has improved in recent months.”