Subscribe to our free, weekly email newsletter!


Panjiva data shows another dip in U.S.-bound shipments

By Jeff Berman, Group News Editor
August 18, 2010

The number of global manufacturers shipping to the United States slipped from June to July, according to data from Panjiva, an online search engine with detailed information on global suppliers and manufacturers.

June saw a 1.0 percent uptick from May, while July was up just 0.2 percent from June, making the month-to-month growth essentially flat. This does not the follow the trend of increased economic and trade activity from the first half of the year, which featured a 9 percent spike from April to May and matching 3 percent gains for the previous two months, according to Panjiva data.

What’s more, July’s data was up 14 percent year-over-year and down 0.4 percent compared to 2008.

Panjiva also reported that there was a 2 percent increase in the number of U.S. companies receiving waterborne shipments from global manufacturers in July, following a 1 percent increase in June. But these numbers do not fare well when compared to a 12 percent June to July rise in 2009 and an 8 percent pick up for the same period in 2008.

“These results feel like the economy is treading water, which, all things considered, is not terrible,” said Panjiva CEO Josh Green in an interview. “But we are certainly not seeing any signs of a robust recovery.”

And with various recent indicators pointing to an uncertain economic outlook, including a higher than expected trade deficit in June, which hit its highest level since October 2008 at $49.9 billion, and imports growing 3 percent to $200.3 billion, as reported by the United States Department of Commerce, Green’s “treading water” hypothesis appears to be spot-on.

Other factors, cited by Green, which are contributing to continued uncertainty, include low consumer confidence and a high unemployment levels.

“We are in a holding pattern,” said Green. “In the next few months, we could see shipments arriving with merchandise heading for stores for the holiday season. And in the month ahead we are going to learn about businesses’ expectations for the holiday season; that will be telling.”

When asked if there could be a discernible uptick in holiday spending that could result in rising import numbers, Green said any gains are highly likely to be very modest, explaining that retailers are not willing to go out on a limb and bet on heavy consumer spending during this year’s holiday season.

Going forward, Green said all eyes will be on consumer confidence for future economic growth, with employment numbers playing a direct role in how things shake out, which, in turn, would make businesses more comfortable spending money, coupled with businesses ramping up their buying activity, too.

About the Author

Jeff Berman headshot
Jeff Berman
Group News Editor

Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. .(JavaScript must be enabled to view this email address).


Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

Manufacturing activity in April remained on the right side of growth for the second straight month, following six months of contraction, according to the April edition of the Manufacturing Report on Business from the Institute for Supply Management (ISM).

Some 22 centuries after the original Silk Road smoothed the path of Chinese silk merchants to Europe, a new effort is beginning to build a new 21st century highway between Europe and the burgeoning economy of China, now the world’s fastest-growing market.

A new study released recently from global management consulting firm A.T. Kearney promises to provide supply chain managers valuable advice on risk mitigation

The most recent edition of the Shippers Conditions Index (SCI) from FTR showed solid gains for the fourth straight month, with market trends remaining favorable for shippers.

Shippers and other ocean cargo carrier stakeholders should be cheering the announcement made today by The U.S. Coast Guard, as it formally notified the International Maritime Organization through a Declaration of Equivalency that the United States position on SOLAS is that there are multiple methods to submit the combined cargo and container weight (Verified Gross Mass or VGM).

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2016 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA