The decline in shipping container volumes arriving at U.S. ports has contributed to the reduction in inflation and alleviated the supply chain crisis. Data from Panjiva and S&P Global Market Intelligence shows that imports in 2023 returned to pre-pandemic levels, following a record surge in 2021. This decline in demand for consumer goods, coupled with retailers reducing their inventories, has relieved pressure on ports and shipping companies. The supply chain issues in 2021 were primarily driven by high demand rather than operational failures.
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