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Exports remain strong

I first noted that outbound container traffic was a good leading indicator of goods exports in an April 2009 post. Container traffic data comes out in a much timelier fashion than goods exports, and it turned up months before we learned that exports had indeed started to recover; that proved to be an excellent end-of-recession indicator. With today's release of November container traffic data from the Port of Los Angeles—up 15% from a year ago—it looks like goods exports are still enjoying robust growth. That's excellent news for the U.S. economy, and it also suggests that the economies of our trading partners are improving as well.

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