WASHINGTON: Imports slumped at the nation’s largest port complex in August, a sign that retailers remain cautious in their outlook for holiday sales amid changing patterns in consumer spending. The nation’s two largest container ports, in neighboring Los Angeles and Long Beach, Calif., imported a combined 732,992 20-foot equivalent units, a standard measure for container cargo, in the month of August. That was down 4.3% from the same month last year. Long Beach’s import volume declined 10.2% while inbound loads in Los Angeles rose less than 1%.
Retailers usually step up imports from Asia in late summer and early fall to prepare for the annual surge in holiday consumer spending. This year’s peak shipping season was expected to be weak as retailers focused on slimming store inventories as more of their customers shop online. U.S. retail sales declined in August, raising concerns about how much consumers would spend for the remainder of the year.
