The West Coast port situation has now reached a “crisis stage,” even as a federal mediator has stepped in to ramp up contract negotiations and stop the slowdown. Retailers, specifically those in the footwear industry, are warning of a “catastrophe” if a West Coast port lockout occurs.
Target is pulling out of Canada, after its expansion efforts beyond the US were unsuccessful.
The New York manufacturing industry expanded, according to the January 2015 Empire State Manufacturing Survey released today. The industry rose 11 points to 10.0, bouncing back in January from a slight decline in December.
US Consumer Confidence has also hit its highest level since 2007, Bloomberg reported. It’s Consumer Confidence Comfort Index rose to 45.4 as of Jan. 11.