BMI maintains its cautiously positive view on the US shipping sector. We forecast contractions in throughput at both the port of Los Angeles and the Port of New York/New Jersey. We have revised down our 2013 US real GDP growth forecast from 2.1% to 1.8%, which is mostly attributable to base effects from poor data readings in Q412 and Q113. The downward revision to our headline real GDP growth number is partly the result of changes to our forecast for real net exports of goods and services. We have revised down our export growth figure, from 3.5% to 2.5%, due …
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