Grim forecast for L.A. and Long Beach ports
Imports at the Port of Long Beach, the nation’s second-busiest port, fell 18.6% compared with a month earlier. Overall cargo traffic is down 26.8% for the year. This according to a new report produced for the local ports but not released to the public. “It’s going to take a long time to climb up out of this,” said John Husing, an economist and cargo expert who has read the report. The comeback “is not going to look like a V, which would be an equally sharp recovery. It’s going to look like a very wide check mark.” Click the photo to the left to read the entire article from the Monday, August 17th, 2009 Los Angels Times.