The nation’s busiest port complex saw its best year since before the Great Recession, a sign of renewed economic strength across the country.
Analysts said the cargo increase at the ports of Los Angeles and Long Beach — coming despite severe problems moving cargo off the docks and uncertainties over a new dockworker contract — shows that the U.S. economy is kicking into a higher gear.
“We are throwing off the shackles of the recession,” international trade economist Jock O’Connell said.
Cargo volumes at the neighboring ports climbed nearly 4% from 2013 to 15.2 million container units, making 2014 the third-busiest year on record, behind only 2006 and 2007.
The San Pedro Bay harbors, which handle roughly 40% of U.S. imports, serve as the nation’s premier gateway to Asia, accepting goods destined for locales across the country. The complex benefited last year from the strongest national job growth since 1999. President Obama used those figures during the State of the Union address to argue that “the shadow of crisis has passed.”
A growing U.S. economy pushed imports up nearly 5% last year in L.A. and Long Beach. But exports fell 2.5% as growth slowed overseas, economists said.
Continued U.S. economic expansion is likely to send cargo volumes higher this year, trade experts said. A strong dollar should provide further support for imports, which account for far more traffic than exports at the ports.
http://www.latimes.com/business/la-fi-ports-traffic-20150122-story.html