Chinese imports to US indicate “deepest drop” since Q3 2011

usimportsfromchinaFrom the Journal of Commerce*:

For the first time since the second quarter of 2013, US imports from China fell on a year-over-over basis, IHS Maritime & Trade Senior Economist Mario O. Moreno said. In the fourth quarter of 2015, China subtracted 0.5 percent from overall US containerized import growth. This also marked the deepest drop by China since the third quarter of 2011 (down 2.4 percent). High inventory levels and softer consumer spending prompted retailers to destock markedly. The retail sales-to-inventory ratio stood at 1.48 in November, up from 1.42 a year earlier.

Despite the sharp subtraction to overall import growth by China, the total inbound trade managed to post a 1.1 percent year-over-year gain in the quarter, mostly because of increased shipments from South America and the Mediterranean.

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