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Buyer Community> Trade Intelligence> knowledge> Steady Expansion in Home Sales Market Vital for Sustained Import Growth, Cautions PIERS Economist
Source: PIERS PIERS

Steady Expansion in Home Sales Market Vital for Sustained Import Growth, Cautions PIERS Economist

Published: 20 May 2015 01:05:40 PST

U.S. containerized imports closed 2011 at a point of upward trajectory -- up 3% Y-o-Y, with December marking the second month of continuous growth at 2.4%, and the fourth quarter closing 1.9% above the same period last year. But, with growth heavily influenced by the fragile housing market recovery, the outlook for 2012 remains cautious, said PIERS Economist, Mario O. Moreno.

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Declining new-home sales were balanced by increases in movement of existing properties, which supported a 5% upswing in U.S. furniture imports. Growth in the manufacturing sector also pushed auto parts imports up 19%, driving December increases in imports from Germany and Mexico. Requests for the import or return of empty containers, for U.S. export and domestic use, rose by 264%.

“The overall economy continues to recover in a stubbornly slow fashion, which makes it highly vulnerable to shocks,” Moreno said. “The auto industry cannot by itself sustain the import trade, but a steady, self-sustained recovery in home sales is decidedly required to support growth going forward.” Moreno’s 2012 container imports forecast remains cautiously at 2.5 to 3.5%, despite fourth quarter data above his earlier predictions.

On a month-over-month basis, overall U.S. containerized imports fell 11.7% in December. A full analysis of the JOC/PIERS findings is available online, or to learn more about PIERS Data visit www.piers.com.

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