Despite economic worries, more containers flow from China to US

News Snapshot:

There’s a seeming contradiction in the macroeconomic and trade data coming out of China these days: Despite contracting industrial activity, low consumer confidence and a worsening stock market rout, China is currently sending the highest volume of ocean container freight to the United States since May 2022. (Indexed ocean container volumes from all Chinese ports to all U.S. ports by day of vessel departure. Chart: FreightWaves SONAR) Part of the surge in shipments is due to the traditional pre-Chinese New Year surge, when factories on China’s coast move a flurry of goods to the port before their workers depart for...