A pair of major banks are sounding the alarm on weak U.S. imports.
This week, analysts from J.P. Morgan and Bank of America warned that U.S. imports have declined in recent weeks. The main culprits include weaker U.S. consumer activity and strict lockdowns in China.
Bank of America noted imports “declined broadly,” particularly out of China. J.P. Morgan’s Europe equity team affirmed FreightWaves’ Tuesday analysis of inbound ocean containers, which found container imports dropped by more than 36%...