Imports from Asia are at an all-time low. Dropping an average of 31.3 percent year over year. Retailers are forecasting less imports to deal with the inventory overhang. February’s imports were the lowest since 869,091 TEU in March 2020, according to PIERS, a sister product of the Journal of Commerce within S&P Global. Retailers hope the decline will taper at the end of August as shopping season peaks.
Source: JOC
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