Loading ...Costly lockout looms on US ports
The US economy could lose $2bn a day in economic activity during a work stoppage at west coast ports, retailers have warned as an impasse in contract negotiations threatens a lockout by employers within days.
Jonathan Gold, head of supply chain for the National Retail Federation, based the warning on a study the federation commissioned last year examining how a complete stoppage would affect US gross domestic product. The study found a five-day lockout would reduce GDP by $1.9bn daily, a 10-day lockout by $2.1bn a day and 20 days $2.5bn daily.
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