Current View of Transportation Economy
We often hear about the economy in the USA in regards to the housing market, stock market, unemployment rate, and other key factors, but what about the status of the transportation economy? Well, since the transportation economy is largely dependent on consumerism it is not doing wonderfully; however, it is also not floundering.
It is forecasted that the USA will import 2.8 percent more containerized goods in the next year. It is good that there will be an increase; however, the original forecast was a 4.7 percent increase. This shows us that the economy in the USA and worldwide is improving, but not as quickly as estimated (and certainly not as quickly as hoped for). Imports are not increasing as quickly as predicted because unemployment rates and home buying rates are not improving as quickly as predicted. Most of what is imported is due to consumers who are buying things for their homes whether it is interior or home improvements. Since the unemployment rates are still significantly high at 8.6 percent, fewer people are taking the risk of buying homes, and therefore, buying fewer products.
In regards to containerized imports from Asia to the USA West Coast, there is a predicted increase of 2.7 percent rather than the 5.9 percent that was previously estimated. The most commonly shipped goods from Asia to the USA West Coast include furniture, televisions, and car parts. All of which are not conducive to the economy in the USA.
It is currently estimated that the worldwide transportation economy will have less growth than 2011. 2011 saw 7.5 percent expansion in world trade. 2010 saw 12.8 percent growth. 2012 is predicted to have only 5.8 percent growth.
If you have questions or concerns about moving your international freight give us a call at (877) 764-9441.
Have domestic shipments? We can help with those as well!
Head to PNG Logistics for more information.