By Brittney Sherman
According to the National Retail Federation’s (NRF) Global Port Tracker Report, February 2023 is projected to experience one of the lowest drops in major container imports since the pandemic began. The forecasted figures are estimating a 25.6% drop since this same month last year, resulting in the lowest cargo import volume since 2020. Overall, the first half of 2023 is projected to see an estimated 19.4% decrease of import cargo volume, as compared to the first half of 2022. What’s the reason? Retailers are being extremely cautious with product and supply purchases, as concerns over inflation and an impending recession continue to rise.
Read the full report HERE.