LAS VEGAS, NV / ACCESSWIRE / June 29, 2017 / U.S. import prices increased for the fifth straight month in April, more than doubling forecast expectations. Record growth is expected to continue throughout 2017, as US retailers are building inventories to meet vigorous consumer demands. The experts at Page Trader, the leader for active traders since February 2000, detailed what investors can expect in the coming months.
Amid rising costs for petroleum products and a range of other goods, the Labor Department reported that import prices rose 0.5 percent in April, compared to the 0.2 percent predicted by economists polled by Reuters. Over the past 12 months, prices have risen by 4.1 percent, and February’s 4.7 percent increase over 2016 was the biggest year-on-year gain in five years. The professional trading forecasters noted that the steady rise will likely help boost consumer inflation. Excluding petroleum, the costs of import capital goods, motor vehicles and consumer goods all experienced notable growth in April. The Labor Department’s report also showed export prices increase 0.2 percent in April, driven by 37.9 percent jump in vegetable prices that offset falls for soybeans, corn and wheat.
The Global Port Tracker, published by the National Retail Federation (NRF), predicts May and October figures of 1.69 million twenty-foot equivalent units (TEU) of cargo storage, which would be among the five highest recorded. In August the organization believes the import volume to amount to 1.74 million TEU, the highest monthly volume since the NRF began tracking imports in 2000. The
Page Trader panel noted that while year-over-year comparisons may slow down, they are still expecting some of the largest import volumes ever seen. Although these slight stalls may only be seen in August and October, due to the timing of this year’s Lunar Year in China. As a result, shippers will be forced to rush shipments to the United States in those months before production stops. The professionals also expect that 2017 retail sales, excluding automobiles, gasoline and restaurants will increase up to 4.2 percent over 2016, driven by job and income growth coupled with low debt. The Global Port Tracker also reported that, compared with the first half of 2016, U.S. imports were up 6.4 percent, or the equivalent of 9.6 million TEU.
Page Trader is a Nevada limited liability company dedicated to being the leading provider of futures forecasting in the world. With unparalleled experience and knowledge in the day trading market, founder David Williams developed a proprietary trading product using the methodology of Spatial Relationship Forecasting that allows him to deliver information on futures and commodities in real time to investors. Page Trader provides advanced, up to the second movements on the E-mini S&P 500, Soybean and Russell 2000 markets. Their buy and sell signals do not require software to download and are easily accessible for brokers and professional traders to take advantage of during beneficial situations.
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