Notably the residential housing sector
BMI maintains its cautiously optimistic view on the US shipping sector. After estimated contractions in TEU throughput at both the port of Los Angeles and the Port of New York/New Jersey in 2013, we forecast a return to growth in 2014 at both facilities. Our view for gradual strengthening in the US economy through end 2014 continues to play out, driven by a tightening labour market and sustained growth in the cyclical components of the economy, notably the residential housing sector and business investment in equipment.
The US economy will accelerate slightly this year, with real GDP growth increasing to 2.1% from 1.9% in 2013. Stronger contributions from personal consumption expenditure growth will be offset somewhat by slower fixed investment growth and a contraction in government spending, as well as a negative contribution from net exports. We believe risks are weighted to the upside across the US economy. The most likely of these risks, we believe, is that a greater-than-expected improvement in the labour market or consumer sentiment leads to much stronger demand for goods and services. Such an outcome could also lead to stronger business investment in capacity and support further housing market growth.
Key Topics Covered:
Industry View
Business Environment
Industry Forecast
Port Of Los Angeles Throughput
Port Of New York/New Jersey Throughput
Market Overview
United States Container Shipping Market Overview
Industry Trends And Developments
Company Profile
Horizon Lines
Shipping - Global Industry View
Container Demand
Container Supply
Container Rates
Global Company Strategy
Macroeconomic Forecasts
Economic Analysis
Demographic Forecast