Evidence from US seaborne imports shows that supply chain activity continues to slow, further reducing pressure on supply chains. US containerized imports fell by nearly a quarter in March versus a year earlier, led by consumer durable goods. The S&P Global PMI for manufacturing supplier delivery times has shown further improvement. The post-pandemic shakeout of consumer goods supply chains continues, with Fast Retailing exiting Myanmar, Levi Strauss cutting its inventories and Costco Wholesale reporting a continued slowing in nonfood sales. PC and smartphone supply chains are in...