Signs of a Slowing Economy.....

For the first time this year, worldwide container vessel flow has fallen below last years flow. While we experienced a significant ramp in flow at the start of 2022 that continued through 2023, the flow has now levelled out and begun to fall. This is not a good sign for the near term future of the economy.

As we have reported in past weeks, the worldwide flow slowdown is continuing and for the first time we have fallen below last years volume. This trend is true for all regions around the world. Last weeks flow was the weakest since Week 5 of this year.

The overall worldwide flow for 2023 is 13% above 2022's annual level, but the chart shows that the early year gains and momentum has been lost. We will now expect a year on year reduction.

The US flow accordingly saw a continued reduction. Any momentum t hat was in the economy appears to be dissipating. It appears that the gains in flow we realized throughout 2022 into 2023 will retreat to 2022 levels early in 2024.

Week on week, the world saw a 1% reduction in overall container vessel flow volume. Only India and China bucked the trend but not enough to raise the overall impact.

The great beneficiary (as one would expect) is port throughput. Ports are clear and moving efficiently. Only the west coast ports of the US bucked this trend. They continue to experience "troubled" flow.

Prepare for a bumpy 2024. All signs indicate a sluggish economy with great deals for consumers.