Despite the sluggish economy, the South Carolina port authority reported an increase in the volume of containers that went through the state’s ports, according to the Charlotte Observer. Enough freight to fill 1.9 million shipping containers came into and out of South Carolina’s harbors
This marks a 1.2% increase in the volume of shipped goods. The number of shipping containers filled is estimated, because goods are shipped in many different ways all across the world. The 1.9 million container number represents the amount of containers that would be used if they were all a standard twenty-foot size.
Despite the sluggishness in other sectors of the economy, the increased volume indicates that there is an increased demand for imported and exported goods with. Other signs of increasing economic vitality can be found in other sectors. Economists speculate about what the United States Federal Reserve will do during its next meeting. A few economists believe that the Federal Reserve will raise interest rates.
Even if the Federal Reserve does not raise interest rates, the volume of sea traffic going through South Carolina ports remains high for August. Dock workers have moved nearly a hundred thousand containers, and the official count for July was over 102,000 containers. It is the largest increase in traffic volume which the port has seen since 2005. Three years later in 2008, the housing bubble would collapse. The collapse started the event known as the Great Recession. Economic recovery continues, but it has remained slow in most sectors of the economy.
If the trend continues, many more South Carolina residents may see a return to full time or part time employment.