Imports to Largest US Port Drop, Hinting at Weaker Demand
- LA port imports show biggest monthly decline since May 2020
- Port to have second-busiest year on record despite August drop
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The number of containers arriving at the busiest US port of Los Angeles dropped by the most since the early days of the Covid-19 pandemic last month, an early indication that consumer demand could be starting to moderate.
Inbound loaded containers to the Port of Los Angeles fell 17% -- the largest decline since May 2020 -- to about 404,000 units in August from the previous month, the port said Thursday. The number of imported containers was the smallest handled so far this year, it said.