Logistics business: Panjiva data shows a 9 percent gain in U.S.-bound shipments
June 18, 2010
On the heels on consecutive 3 percent gains in the number of global manufacturers shipping to the United States in March and April, May saw that number climb to 9 percent, according to data from Panjiva, an online search engine with detailed information on global suppliers and manufacturers.
And on a year-over-year basis, the most recent 9 percent April to May gain tops last year by 13 percent—due to the economy not being in recovery mode at that time.
Panjiva officials said the total number of global manufacturers shipping to the U.S. in May was 149,163, a 13 percent annual gain and a 7.9 percent gain over April’s 137,303.
Panjiva also said that there was a 21 percent annual increase in the number of waterborne shipments coming into the U.S. in May and an 8 percent bump from April.
In an interview with LM, Panjiva CEO Josh Green said he was pleasantly surprised and encouraged by May’s output.
“What we are seeing now is the result of growing confidence on the part of businesses that consumers will increase their willingness to spend,” said Green. “It is very good news, and it would be very easy to overreact and believe that the recovery is moving full speed ahead. I don’t think we are there yet. And what is happening in Europe is the ‘X factor’ right now and rising prices in China are going to dampen the global economic recovery in the next six months.”
While increased demand for services is helping to boost trade and freight transportation volumes, in conjunction with consumer spending, there is some sentiment that this momentum may have peaked with the first half inventory build up coming to an end.
And with slow and steady growth being the theme—as noted in Panjiva’s data—in recent months, Green said that the second half of this year will grow, albeit at a modest pace.
“We were surprised by the magnitude of the jump in May, but that does not change the outlook over the next several months which is modest growth and certainly that growth could be put in jeopardy by a number of ‘X factors’ that are ongoing like the financial crisis in Europe.”
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