Port of Long Beach Sees Another Down Month as ‘Consumer Skepticism’ Sticks

[marmar]

(Bloomberg) Economic forecasters predicting a Christmas sales bump in the U.S. may be disappointed, according to early traffic reports from the nation’s second-busiest port.

Inbound container cargo at the Port of Long Beach probably fell again in August after a 1.2 percent drop in July, said Richard Steinke, executive director of the facility.

Retailers are holding back on orders because “there’s still consumer skepticism,” Steinke said today in an interview at the Los Angeles office of Bloomberg News. “Unsettled is probably a good word to describe what’s going on now.”

The National Retail Federation last month forecast a 10 percent jump in U.S. inbound container volume in September and an 8 percent rise in October. The busiest shipping season typically starts in late July or early August and can continue through October. ..........(more)

The complete piece is at: http://www.bloomberg.com/news/2011-09-01/port-of-long-beach-sees-another-down-month-in-time-of-consumer-skepticism.html

[Yo_Mama]

1. Consumer skepticism aka

broke consumers. It's very hard for a lot of folks to afford the basics right now; they sure don't have much money left over for even non-necessary clothing.