Up a bit but still looking a lot lower than a few months ago:
“Deep in contraction”
Simply looking at this month versus last month – there were only marginal changes to weak numbers. The year-over-year rate of growth improved for imports and marginally worsened for exports. Still, year-to-date growth for both imports and exports remain deep in contraction.
The three-month rolling averages for exports and imports are also in contraction.
Imports container counts give an indication of the U.S. economy’s state and the soft data continues to indicate a weak U.S. economy. Exports are saying the global economy is weak as well.
Container data is consistent with other transport data indicating a weak economy.