May Retail Imports Are Worse Than Expected
Retail imports declined 17.2% to 1.53 million Twenty-Foot Equivalent Units in May, according to the NRF’s Port Tracker, and were down 4.8% sequentially from April. The NRF said the recession brought on by the Covid-19 pandemic may be easing somewhat, but it still sees retailers being conservative. And the number of virus infections rising in states that reopened too quickly may lead to shutdowns later in the summer, bringing the economy to a screeching halt again. After the weak May numbers, the estimate ... Log in to view full article.