Rebound ?

Given the hyperbole surrounding a U.S. recovery, I wanted to see some facts and one good indicator is our exports - pictured. Outbound container traffic from Los Angeles and Long Beach (about 40% of US container traffic) reflects a rebound in US goods exports. This has occurred despite the dollar's appreciation against the Euro and other currencies following Greece making U.S. goods more expensive. Indeed, outbound containers shipped from LA in May were only a few thousand shy of their level of May '08, almost a complete recovery (container traffic is not seasonally adjusted) from the global trade collapse of late 2008. Strong export activity is not only good for U.S. growth, it also reflects health of the economies of our trading partners.