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California box slump warning
25 Oct 2007
The ports of Los Angeles and Long Beach, which were anticipating growth this year of 5, are now warning that there may well be no increase at all in 2007, or even a slight decline.
This is blamed on a major slump in the housing market and an associated loss in consumer confidence.
Although exports remain buoyant, imports are down.
Both ports have reported increased box throughput for the last four years.
