Port activity slows down

It's always dangerous to take a few statistics and project into the future, but what's the deal with container volume at the ports of Los Angeles and Long Beach falling again in May? That's the third monthly decline in a row. The last time that happened was in 2001, when there were four straight months of declines (not to mention a recession). The Port of Los Angeles reported a 0.22 percent decrease in containerized imports compared with a year earlier, while imports at the Port of Long Beach fell 3.5 percent. It's worth noting that the year-ago numbers were quite strong, so perhaps these monthly drops just signal an economy on the tail end of its growth phase. Jack Kyser, chief economist at the Economic Development Corp. of Los Angeles County, says the numbers reflect sluggish sales activity at the big-box retailers. Whatever the cause, it's worth keeping an eye on. (American Shipper)