Recession panic intensifies! In the first two months of this year, US Container imports plummeted by 20%

Just as Wall Street bosses generally believe that the US economy is expected to achieve a soft landing, more and more real economic data show that the US economy is heading for recession.

On March 9, a report released by Canadian logistics company Descartes Systems Group showed that in the first two months of this year, the United States shipped Container (Container imported from China) Imports fell by 20 percent.

From January to February this year, the total number of Container entering the United States in 20-foot equivalent units was 3.8 million, which decreased from 4.78 million in the same period of 2022 and was basically the same as that in the same period of 2019.

GlobalTransportation cost of 40 feet ContainerHas returned to pre-pandemic levels.This is mainly because most central banks in the world actively raise interest rates to fight inflation and curb consumer spending, thus reducing International.

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Some media commented that the economic burden of soaring inflation and rising interest rates in the United States mainly falls on low-income consumers.With consumption accounting for 68.5% of US GDP, the disturbing slowdown in Container's shipping industry suggests that the US economy is showing signs of faltering.

Descartes said that the throughput of Container from Chinese, Japanese and German decreased the most.

The drop in U.S. imports of Container is seen by the market as ominous, as some strategists believe the recession could begin in the second half of this year.

Moreover, interest rate hikes, which began last year, are only just beginning to have an impact on the US economy and will severely dampen economic activity in the coming months.

Imported from Container, USAThe sharp decline ofIt didn't start this year.

U.S. ports handled 1,929,032 inbound Container (measured in 20-foot equivalent units) in December, down 1.3% from November and the lowest level of seaborne imports since June 2020, after a COVID-induced replenishment boom triggered a surge in imports.

According to Descartes data, the number of Container in the United States in December last year decreased by 19.3% compared with December 2021 and only 1.3% more than December 2019. In 2020, the spread of the epidemic and the blockade of cities led to a sharp decline in global trade.

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