NRF: Port TEUs slip in September, but rebound in October

Ports covered by the Global Port Tracker handled 1.6 million twenty-foot equivalent units (TEU) in September, down 6.6 percent from August and 1.6 percent from September 2015, the National Retail Federation (NRF) announced yesterday.

Volume rebounded in October to 1.67 million TEUs, up 7.5 percent from last year, according to the Global Port Tracker report, issued by NRF and Hackett Associates.

With the holiday shopping season officially underway, major retail container ports are expected to increase 4.4 percent this month over the same period a year ago and should see a slightly larger increase next month, according to the report.

"Retailers are importing more during the holidays this year than last year and that can only mean one thing – they expect to sell more," NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said in a press release. "Most of the holiday merchandise is already here, but retailers are still restocking to be sure shoppers will have a broad and deep selection as they hit the stores over the next several weeks."

NRF forecasts $655.8 billion in holiday sales, up 3.6 percent over last year.