NY and NJ area port traffic up 9.6% in the first quarter

In what officials at the Port Authority of New York and New Jersey say is a sign of economic improvement at home and abroad, the total volume of imports and exports rose 9.6 percent at the region's ports during the first quarter of 2010 compared with the same period last year, the Star-Ledger reported.

Imports for the year's first three months rose 9.8 percent above 2009 levels while exports were up 9.4 percent.

Steve Coleman, a spokesman for the bistate agency, which runs the ports, said the figures were a positive sign for the broader economy.

Increased imports, he said, indicated domestic consumer demand was up, while increased exports signalled improving demand by overseas shoppers, as well as a boost for domestic manufacturers.

"I think the overall numbers are a reflection of the uptick in the economy," Coleman said.

"What we're seeing at the port is evidence that consumer confidence is up, that the regional job market is becoming stable, and that the market is starting to improve."

Coleman qualified his optimism, however, noting 2009 was a particularly bad year for the port.

Overall volume fell 12.7 percent for all of last year, including a 13.8 percent drop in exports and an 11.9 percent drop in imports.

(Source:www.cargonewsasia.com)