Weak volumes to Europe and the Mediterranean caused U.S. containerized exports to dip 0.2 percent in the fourth quarter, providing a dull finish to a year in which exports hit a record 11.9 million 20-foot equivalent units, according to PIERS data.
The fourth quarter decline to 3 million TEUs matched the forecast of Journal of Commerce Economist Mario O. Moreno. He said the dollar stabilized while European demand weakened amid the continent's economic troubles. Moreno's most recent forecast in December calls for containerized exports to rise 3.8 percent this year.
Fourth quarter exports to Northern Europe fell 6 percent to 318,118 TEUs. Shipments to Mediterranean countries tumbled 9 percent to 136,599 TEUs.
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