Port activity points to moderate expectations*

Inbound container traffic at the Port of Los Angeles was up 6 percent in June and outbound was up 6.9 percent - solid if not spectacular results that conform to cautious ordering by U.S. retailers (and cautious buying by consumers). Inbound and outbound traffic were down from the previous month. The National Retail Federation expects modest year-over-year increases through the holiday shipping season. (Numbers from the Port of Long Beach are not out yet.) From NRF press release:

"Whether consumers are going to have the confidence to spend during the next few months depends on what happens with employment, but retailers are being cautiously optimistic," NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. "Sales can fluctuate from month to month, but these import numbers show that retailers are still expecting this year to be better than last year."

*Update: The Port of Long Beach, which has been struggling in recent months, had a good June, with inbound traffic up 3.5 percent and outbound up 5.6 percent.