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Renewed strength in goods exports

After a year or so of relatively stagnant loaded outbound container shipments, the Ports of Los Angeles and Long Beach in October reported increases. (Together, the two ports account for about 40% of U.S. goods exports.) Long Beach, in particular, saw loaded outbound containers jump by 21% from September, and 26% from October '09. Moreover, this was the biggest October export figure ever for Long Beach, which suggests that exports are on track to eclipse their 2008 highs before too long. Since data on outbound container shipments tends to lead official U.S. export figures, this is a good indication that we will see stronger numbers on U.S. goods exports in coming months. And that, of course, feeds directly into stronger GDP.

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