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 lowest they’ve been in more than half a decade, and the cargo volume we’re seeing reflects those numbers,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said in a statement. “The balancing act between supply and demand is tougher than ever because retailers want to make sure they have enough merchandise on the shelves to satisfy customers and not be forced into unplanned markdowns to move excess inventory once the holidays are over.”
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