The trade data shows an export slow down in March. But exporters are complaining of a bottleneck -- according the Wall Street Journal (Container Shortage Frustrates U.S. Exporters:
Surging U.S. exports on a range of goods including corn, soybeans and frozen pork are hitting a bottleneck in the nation's overloaded ports, threatening to crimp profits for U.S. farmers and agricultural processors at a time when it is easier than ever for them to sell their goods abroad.
The problem can be traced to a shortage of once-plentiful shipping containers and other transportation equipment, along with a lack of space on outgoing ships. The shortage is affecting other industries, including exporters of manufactured goods and sellers of scrap metal and paper.
Is the March trade simply lagging the surge? Or are the bottlenecks causing the data to reflect an export slowdown? This is an important policy question, as it relates to whether or not the changing currency levels are having an impact on the trade deficit. We may have to wait until next month to learn more.
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