Retailers: Cargo imports increase nearly 10 percent in preparation for holiday shopping

By Keith Laing - 10/09/12 12:06 PM ET

The number of goods forecasted to ship through U.S. ports in the month of October has increased 9.9 percent as stores increase their inventory in preparation for the holidays, the National Retail Federation said Tuesday.

The Washington, D.C.-based NRF said its monthly Global Port Tracker showed an uptick during what is the traditional end of the period of increased holiday-focused shipping activity.

NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said the increase is a good sign for the overall U.S. economy.

“NRF’s annual forecast says retailers should see solid growth during the holiday season this year and these cargo numbers back it up,” Gold said in a statement. “Increased imports show that retailers have gauged the market and expect increased sales.”

The NRF analysis forecasted 1.45 million, 20-foot cargo containers, called TEU's for Twenty-foot Equivalent Units, will pass through U.S. ports in October. The figure is compared to 1.49 million TEUs in in September, which was an 8 percent increase from last year, and 1.42 million large containers in August, which represented a 3.3 percent increase from 2011.

The NRF said most holiday merchandise is at least at shipping distribution centers, such as ports, by the end of October, so it expects a drop off in the number of packages that will pass through them the rest of the year.