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.
Read “Biggest Drop Since ’09 Hits US Ports as West Coast Suffers” >