Cargo Traffic Expected to Slump 7.1% in ’08: NRF

=Cargo volume at the nation’s major retail container ports fell again in October, and 2008 is now expected to be the slowest year since 2004 because of the downturn in the economy, according to the monthly Port Tracker report released today by the National Retail Federation here and IHS Global Insight.

WASHINGTON — Cargo volume at the nation’s major retail container ports fell again in October, and 2008 is now expected to be the slowest year since 2004 because of the downturn in the economy, according to the monthly Port Tracker report released today by the National Retail Federation here and IHS Global Insight. Volume is projected to total 15.3 million 20-foot-equivalent units for the year, compared with 16.5 million TEU in 2007, a decline of 7.1%. “Retail sales forecasts this year are the

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