United States-bound containerized freight shipments again saw growth in June, according to data recently issued by S&P Global Market Intelligence.
June imports, at 2.67 million TEU (Twenty-Foot Equivalent Units), posted a 9.3% annual gain, marking the tenth consecutive month of annual growth, following a 14-month stretch of annual declines.
Total second quarter imports were up 9.4% annually, following a 15.1% first quarter gain. Materials imports paced quarterly growth, up 16.2% annually, with paper and forestry products shipments up 21.1%, while seeing monthly growth up 15.0%, down from May’s 17.2% gain.
Other shipment categories seeing quarterly and monthly readings, included:
- capital goods shipments rose 8.7% in the first quarter, down from the first quarter’s 11.8% increase, with June up 10.7% annually, ahead of May’s 5.6% growth rate, with power generating equipment, including solar panels and electrical equipment, up 19.4% and 16.6%, respectively in the second quarter, with building products and industrial machinery down 0.9% and 6.9%, respectively, in the second quarter;
- consumer goods saw a 7.1% annual second quarter gain, down from a 13.1% first quarter gain, and a 10% June gain;
- household appliances rose 18.9% annually in June, with second quarter shipments also up 18.9% annually, with home furnishings up 11.4% annually in June and up 8% for the quarter; and
- consumer electronics shipments eking out matching 0.7% annual gains for the month of June and the second quarter
Through the first six months of 2024, S&P Global Market Intelligence reported that total U.S.-bound containerized shipments, at 15.43 million TEU, are up 12% annually, with both 2023 (at 13.76 million TEU) and 2024 tallies both down compared to 2022’s 16.39 million TEU at the halfway mark.
In an interview, S&P Global Market Intelligence Research Director Chris Rogers said that while June again posted import gains, the slowing in the growth rate was expected.
“We thought we would already be seeing a lower growth rate now than we are, and that is why we are seeing a degree of front-end loading here, when we look at different sectors,” he explained. “For certain categories, the import readings are related to where things are in the destocking cycle at this point of the year compared to last year. When we look at the gains seen for household appliances and home furnishings, they are up because last year, at this time, they were in the depths of that destocking cycle. It is a little surprising to see sluggish housing starts while home furnishing imports are up.”
Looking at the numbers on balance, Rogers said that there is generally import strength across the board, albeit it is slowing compared to numbers seen in prior months.
“All the major sectors are effectively seeing double-digit growth, with the exception of consumer electronics and textiles, so things have been strong,” he said.
SC
MR
![](/images/prototype/email-newsletter-image.jpg)
More Global Trade
- Reglobalization drives the modern supply chain network
- Mapping the impact of geographic differences on global supply chain practices
- Join the Real Housewives of Supply Chain, change leaders in exclusive sessions at NextGen Supply Chain Conference
- Global footwear innovator taps 3PL expertise to boost U.S. presence
- When worlds collide
- The special demand optimization team
- More Global Trade
Latest Podcast
![](https://www.scmr.com/images/2024_article/talking-supply-chain-podcast-2023_USE_THIS_ONE_1.jpg)
Explore
Topics
Procurement & Sourcing News
- Gen AI on Gartner’s Hype Cycle fast track to mainstream adoption
- Reglobalization drives the modern supply chain network
- Mapping the impact of geographic differences on global supply chain practices
- Join the Real Housewives of Supply Chain, change leaders in exclusive sessions at NextGen Supply Chain Conference
- Global footwear innovator taps 3PL expertise to boost U.S. presence
- Use value to drive organizational change
- More Procurement & Sourcing
Latest Procurement & Sourcing Resources
![](https://www.scmr.com/images/2024_article/talking-supply-chain-podcast-2023_USE_THIS_ONE_1.jpg)
Subscribe
![](/images/prototype/scmr_cover.jpg)
Supply Chain Management Review delivers the best industry content.
![](https://scg-scmr.s3.amazonaws.com/images/site/tablets.jpg)
Editors’ Picks
![](https://www.scmr.com/images/2024_article/_resize/GettyImages-inventory_resize_8a6c323291c914b43f9f252f137b3568.jpg)
![](https://www.scmr.com/images/2024_article/_resize/Jennifer_Springer_keynote_image_resize_8a6c323291c914b43f9f252f137b3568.jpeg)
![](https://www.scmr.com/images/2024_article/_resize/salary-survey-2024-baloon_resize_8a6c323291c914b43f9f252f137b3568.jpg)
![](https://www.scmr.com/images/article/_resize/baltimore-bridge-coast-guard-Maryland-Governor_resize_8a6c323291c914b43f9f252f137b3568.jpg)