Long Beach Container Shipments Showing Healthy Growth

Data on container shipments into the Long Beach Port in California provides an excellent snapshot into the overall economy, particularly as it relates to trade with Asia. As indicated in the chart below, inboard container shipments have experienced significant year-over year growth, with May 2010 shipments growing nearly 27%. Since bottoming in February 2009 (one month before the equity markets bottomed), shipments have grown by a staggering 77%, though remain well below the peak levels of 2007, as evidenced by May 2010 shipments which were still 16.4% lower than May 2007 shipments.

However, for those bullish on the US economic recovery, data from Long Beach certainly helps support that view.