US box traffic down 1.3pc, slump continues for third month

TRAFFIC at major US container ports dropped below last year's levels for the third month to November as merchants braced for a slower Christmas season, said the Port Tracker report released by the National Retail Federation (NRF) and Global Insight.

"The slow pace is to continue due to weakness in the US economy," said Global Insight economist Paul Bingham.

Ports surveyed were Los Angeles/Long Beach, Oakland, Tacoma, Seattle, New York/New Jersey, Hampton Roads, Charleston, Savannah, and Houston. All were rated "low" for congestion.

"Retailers are carefully managing their inventories so that they won't be forced into unplanned discounts," said NRF vice president Jonathan Gold.

Ports surveyed handled 1.46 million TEU in October, the most recent month for which actual numbers are available. That's down 1.3 per cent from September's 1.48 million TEU and 3.5 per cent from the record high 1.51 million TEU in October 2006.

October is usually the peak month, but the figures this year show September was the high point. November was estimated at 1.36 million TEU, down 3.5 per cent from a year ago. If estimates prove correct, then it would mark the fourth month in a row that cargo failed to meet last year's levels. August was down 1.4 per cent and September was down 1.9 per cent year on year.