Uncertainty and high costs continue to worry businesses and exert upward pressure on inflation.
"What we've seen is consistent cargo flow," says Gene Seroka, executive director of the Port of Los Angeles.
After a pandemic, trade war and rising wages, many manufacturers have been looking for other options outside of China.
“It’s the kind of stuff that keeps you awake at night,” said Teresa Asbury, a senior executive at the Legacy Cos.
From the shipping slowdown in China to the excess of inventory on hand, there are a number of likely reasons for the drop.
The global supply chain pressure index shows that recent disruptions are extreme. But the labor situation is not represented.
David Erlanger is dealing with shipping delays and price increases the likes of which he hasn’t seen in his decades in the business.
Hurricane Ida held back oil and gas exports in September, so there was a big backlog that rushed out in October, shrinking the trade deficit.
China's no-tolerance COVID-19 protocols may keep the variant at bay but may slow down shipping again.