West Coast import volume tumbled 33.4% in January, while the Gulf coast and Puerto Rico saw 12.2% volume increase and East Coast imports climbed 3.4%, reports Bloomberg, citing Datamyne port data released February 18.
Nationwide, import volume fell 16.6%, according to Bloomberg. But the trade data may also reflect the West Coast ports’ ongoing labor dispute.
The West Coast slowdown likely subtracted one full percentage point from fourth-quarter 2014 economic growth, says a Deutsche Bank Securities economist. The Bloomberg story takes a closer look at short-term economic impacts as well as the possibility of more lasting trade volume shifts away from West Coast ports.