Panjiva data shows lower than expected July import volumes

Data from Panjiva, an online search engine with detailed information on global suppliers and manufacturers, showed somewhat mixed results for United States-bound waterborne shipments in July.

According to Panjiva data, July shipments-at 952,126-were up 1 percent over June, following sequential gains of 7 percent for May over April and 1 percent for June over May. July shipments were down 1 percent compared to the same month in 2014.

The 1 percent gain in shipments from June to July marks the lowest sequential increase for this period since Panjiva initially began tracking this data. By comparison June to July growth for 2014, 2013, and 2012 was 6 percent, 10 percent, and 9 percent, respectively.

On a year-to-date basis through July, shipments are up 1.9 percent at 6,295,895.

Panjiva explained in a blog posting that while the U.S. economy saw relatively steady import growth through the first six months of 2015, July took a step back. And it added that July typically marks the beginning of holiday season imports, with average month-to-month growth resting in the 5-to-10 percent range.

“After promising growth in June, I was surprised to see the shipment numbers for July,” explained Annelise McCarthy, Panjiva's research director. “We were expecting to see month-over-month growth in the 5%-10% range, as July has been a peak month for holiday imports in the past couple of years. July’s 1% monthly growth is disappointing.”

If August, which along with July historically represent the busiest months of the year for U.S. importers, as companies begin stocking up for the holidays, also underwhelms, McCarthy said it might provide insight into how retailers are feeling about the 2015 holiday season.

But she cautioned that it is possible the import peak could be a little later than usual this year, which would quell the impact of July's low shipment volume output.

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