Current Events in the World of Industrial Property
Ports of L.A. and Long Beach post 18% growth in container traffic
17 Nov 2010 |
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The nation’s busiest cargo complex posted 18% growth in combined container traffic for October, adding another strong month to the ports’ recent string of double-digit growth.
“Retailers were concerned about a shortage of cargo containers and they ordered early this year to make sure they had enough goods for the holiday season,” said Nancy Sidhu, chief economist at the Los Angeles County Economic Development Corp. “The fact that these numbers were still higher than what had been 2009’s best month is significant.”
The ports of Los Angeles and Long Beach handle more than 40% of the nation’s imports. That makes the duo’s operations an important bellwether for the U.S. economy.
The economy, as reflected in the trade numbers, has been growing sporadically but is improving, Sidhu said.
“The numbers wiggle, but they still go up and up,” she said. “Things are better.”
Click HERE to read the entire article from The Los Angeles Times.
