|
Below are highlights from the recently released trade data from the US Census Bureau and US Bureau of Economic Analysis. To view additional data and analysis related to the California economy visit our website at www.centerforjobs.org/ca.
For California, the September numbers overall came in at strong levels as normal trade activities were affected by labor issues at other ports along the East and Gulf Coasts and in Canada. Origin exports rose 5.9% in nominal terms above the same month a year ago, while total trade through the state's ports rose to 17.4% of the national total for the month and 16.3% on a 12-month moving average. Trade volumes also reflected continued efforts by shippers to get ahead of expected port closures as well as anticipated tariff increases in the next administration.
In nominal terms, total trade through the state's ports in the first 9 months edged above the level previously seen in the same period during 2022. In real terms, total trade moved beyond recovery and into expansion compared to the pre-pandemic year of 2019.
|
