US imports outlook first half of 2023

The recent data from S&P Global Market Intelligence shows that containerized freight imports to the United States remained steady in June compared to May, but experienced an 11% decline compared to June 2022. The decline is attributed to weak consumer demand, with consumer goods imports, including furniture, appliances, leisure goods, and apparel, down by about 20%. While on the industrial side, capital goods imports are only down by about 2%.
Despite a 16% annual decline in import numbers for the first half of 2023, the rate of decline has been slowing in recent months, and there are expectations for a more stable third and fourth quarter with the possibility of an overall recovery year, though still lower than 2022 figures.