Port of Long Beach: Record Month, "Looks like retailers are optimistic about the holiday season"
From the Port of Long Beach: Port of Long Beach Sets Record for September
Cargo volume continues to break records at the Port of Long Beach, which moved more containers last month than any September in its history.CR Note: I'll have more on port traffic soon.
The 701,619 twenty-foot equivalent units (TEUs) processed in Long Beach for September — up 28.3 percent — also resulted in the Port’s best quarter ever. In the third quarter (July, August and September), the Port of Long Beach handled 2,114,306 TEUs, as volumes swelled 15.9 percent over the same period last year.
“Simply put, we are having the best trade months in Port history,” said Harbor Commission President Lou Anne Bynum. “Back-to-school merchandise was strong for us, and it looks like retailers are optimistic about the holiday season.”
• At 8:30 AM ET, The initial weekly unemployment claims report will be released. The consensus is for 252 thousand initial claims, down from 260 thousand the previous week.
• Also at 8:30 AM, The Producer Price Index for September from the BLS. The consensus is a 0.4% increase in PPI, and a 0.2% increase in core PPI.