{"id":9303,"date":"2023-05-09T16:25:42","date_gmt":"2023-05-09T16:25:42","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/nrf-us-imports-forecast-to-remain-well-below-2022\/"},"modified":"2023-05-09T16:25:42","modified_gmt":"2023-05-09T16:25:42","slug":"nrf-us-imports-forecast-to-remain-well-below-2022","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/nrf-us-imports-forecast-to-remain-well-below-2022\/","title":{"rendered":"NRF: US imports forecast to remain \u2018well below\u2019 2022"},"content":{"rendered":"<p> <p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/>\n<\/p>\n<div>\n<div class=\"text-to-speech\">\n    <button class=\"text-to-speech__button button\"><br \/>\n            <img decoding=\"async\" class=\"text-to-speech__button__icon\" src=\"https:\/\/www.retaildive.com\/static\/images\/audio_icon.svg?482016190122\" alt=\"\"\/><br \/>\n            Listen to the article<br \/>\n            <span class=\"text-to-speech__button__audio-length\">2 min<\/span><br \/>\n    <\/button><\/p>\n<div class=\"text-to-speech__controls\">\n        <audio controls=\"\" class=\"js-text-to-speech\" preload=\"none\"><source src=\"http:\/\/res.cloudinary.com\/dmgi9movl\/video\/upload\/q_1\/v1683648290\/news\/text_to_speech\/united-states-retail-cargo-import-volume-below-2022-levels_enfor1.wav\" type=\"audio\/mp3\"><\/source><\/audio><\/p>\n<div class=\"text-to-speech__controls__text\">\n            This audio is auto-generated. Please let us know if you have feedback.\n        <\/div>\n<\/p><\/div>\n<\/div>\n<h3>Dive Brief:<\/h3>\n<ul>\n<li>Import cargo volume at the nation&#8217;s major container ports is expected to remain \u201cwell below\u201d last year\u2019s levels heading into this fall, according to a Global Port Tracker report\u00a0from the National Retail Federation and Hackett Associates<\/li>\n<li>The report projects that U.S. ports will oversee 10.4 million twenty-foot equivalent units in the first half of this year, falling 22.8% from 2022.\u00a0<\/li>\n<li>\u201cConsumers are still spending and retail sales are expected to increase this year, but we\u2019re not seeing the explosive demand we saw the past two years,\u201d NRF Vice President for Supply Chain and Customs policy Jonathan Gold said in a statement.<\/li>\n<\/ul>\n<h3>Dive Insight:<\/h3>\n<p>Economic uncertainty caused by high inflation, Federal Reserve interest rate hikes and bank failures has had an impact on trade, according to Hackett Associates founder Ben Hackett.\u00a0<\/p>\n<p>\u201cOur forecast now projects a larger decline in imports in the first half of this year than we forecast last month,\u201d Hackett said in a statement. \u201cOur view is that imports will remain below recent levels until inflation rates and inventory surpluses are reduced.\u201d<\/p>\n<p>Declining exports out of China also highlight a slowdown in demand for consumer goods, Hackett said.\u00a0In a report released earlier this year, the NRF also pointed to inflation concerns as a cause for a decline in imports.<\/p>\n<p>U.S. ports managed 1.62 million twenty-foot equivalent units in March, the latest month for which final numbers are available,\u00a0down 30% from last year. The report estimates that U.S. ports will see 1.83 million twenty-foot equivalent units in May, a 23.5% drop year over year.<\/p>\n<p>\u201cCongestion at the ports has largely gone away as import levels have fallen, but other supply chain challenges remain, ranging from trucker shortages to getting empty containers back to terminals,\u201d NRF\u2019s Gold said. \u201cWe were pleased by recent reports of progress related to the West Coast port labor negotiations but will continue to monitor the situation closely until there is a new agreement ratified by both parties.\u201d\u00a0<\/p>\n<p>Though this year\u2019s imports are supposed to decline through September, the NRF predicted in a previous report that the gap between last year and this year will narrow over the summer.<\/p>\n<\/p><\/div>\n<p><p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Listen to the article 2 min This audio is auto-generated. Please let us know if you have feedback. Dive Brief: Import cargo volume at the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9304,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-9303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/9303","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/comments?post=9303"}],"version-history":[{"count":0,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/9303\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media\/9304"}],"wp:attachment":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media?parent=9303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/categories?post=9303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/tags?post=9303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}