Panjiva reports gains in global trade growth for July
August 21, 2013
Coming off of the month of June, which showed fairly flattish global trade growth, data from Panjiva, an online search engine with detailed information on global suppliers and manufacturers, showed a spurt in activity in July.
U.S.-bound waterborne shipments—at 1,230,726—were up 9 percent compared to June and up 4 percent annually. Panjiva said this represents the highest shipment levels it has seen since it started tracking shipments in 2008.
“We think this is evidence of an ongoing economic recovery in the U.S., and that retailers are anticipating a strong holiday season,” the company said in a blog entry. “Levels may come down in August—but that will represent a typical annual trend. This data makes us optimistic about an economically strong end to 2013, and a robust holiday shopping season.”
Panjiva said the number of global manufacturers shipping to the U.S in July—at 179,929—was up 3 percent compared to June and 14 percent on an annual basis.
“These numbers look good for a few different reasons,” said Panjiva CEO Josh Green in an interview. “One is that it is continuing evidence we are in an economic recovery and another being that corporate buyers are feeling optimistic about back-to-school and the holiday season.”
Green added that things over all seem better than a year ago at this time, explaining that June to July 2012 growth was somewhat similar to this year but said that this year there are more signs of growth, which provide confidence that the economic recovery is real.
Regarding how things are shaping up in the coming months, Green said the shorter-term question has to do with how consumers behave during back-to-school and the holiday seasons.
“If they come out strong, it will give corporate buyers more confidence about the end of this year and 2014, but if it is less than robust, it will be a different story,” he said. “Typically we see modest declines from July to August so if that is what we see it will not be viewed as a cause for concern.”
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