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Exports continue to grow

Another update of a chart I first showed one year ago. Data on outgoing container shipments from the Ports of Los Angeles and Long Beach (which account for a about 40% of U.S. container traffic) show continued growth in export activity, at least through the end of last month. This data is a a reasonably good and timely proxy for the growth of US exports, which are reported with a lag. Export growth feeds directly into GDP, and it is also a measure of how strong the global economy is. From the looks of things, all systems are go. Los Angeles container shipments have rebounded about 50% from their late-2008 lows, and have almost returned to the highs of early 2008. More V-shaped recovery signs; sorry if this is getting to be a bit boring.

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