“Despite falling 1.1% m/m in both November and December, US retail sales volumes remain 13% above 2019 levels and 6% higher than the pre-Covid trend. However, sales volumes could return to trend during 2023 and thereby pose a risk for Asia to North America container volumes,” stated Niels Rasmussen, chief shipping analyst at BIMCO.
Supported by Covid stimulus packages and mobility restrictions limiting spending on services, retail sales volumes in the US have remained on average 15% higher than...