Recently it was announced that the nation’s leading seaports continued to see solid gains in overall shipping activity. Port activity is a leading economic indicator because ports are the entry andpoint of goods coming to and leaving this country. Growth in imports obviously indicates that the is growing and demand is up. Growth in products being exported tells us that U.S. manufacturers are expanding, which eventually leads to job growth and further economic expansion.
As reported last month, despite the massive earthquake in Japan and rising fuel costs, the Port of Los Angeles reported a 10 percent increase in cargo shipments during the first quarter of 2011. [Read more…]