The Long Beach data showed a significant decline in port traffic due to the labor issues that were tentatively settled on Friday.
Note: There is usually a seasonal slowdown in February or March (depending on the timing of the Chinese New Year). February traffic will be very slow this year, but March should be strong.
Imports were down 23.5% year-over-year in January, and exports were down 19.6% year-over-year.
This decline in traffic was primarily due to the ongoing labor negotiations.
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