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The U.S. economy is strong enough to avoid a sharp downturn, even as concerns are growing about how long consumers can sustain healthy spending levels amid rising inflation, the head of transportation at Deutsche Post AG’s DHL supply chain division said.

The Logistics Managers’ Index, a measure of U.S. supply chain pressures, rose to a record.

Global supply strains that started to ease in early 2022 are worsening again as headwinds strengthen from the war in Ukraine and China’s COVID lockdowns, threatening slower growth and faster inflation across the global economy.

Ocean freight rates on goods shipped to both U.S. coasts from Asia fell to the lowest levels since July, reflecting an easing of supply strains after the pre-holiday shipping frenzy that fanned inflation fears in the world’s largest economy.

Ocean freight rates, which have pummeled retailers and manufacturers throughout 2021, may take more than two years to return to normal levels if past market cycles are any guide.

Officials in Long Beach, Calif., relaxed restrictions on storing shipping containers in a bid to ease a bottleneck that’s left nearly 80 vessels waiting offshore to enter the biggest U.S. gateway for ocean freight.

To understand why more than 100 containerships are waiting to enter U.S. ports from Southern California to Savannah, Ga., it helps to keep tabs on the congestion that’s building at another key junction of freight transportation: rail yards.

Global trade in goods might be close to plateauing — albeit at a record level — amid an outlook clouded by regional imbalances and coronavirus outbreaks that slow economic activity, the World Trade Organization said.

The biggest U.S. trade gateway with Asia is clogged with the most inbound container vessels in more than six months, threatening to extend transportation delays, bite further into margins for American importers and boost prices for consumers.

The head of one of the largest U.S. gateways for trade said robust demand for imported goods likely will be sustained into 2022 as companies scramble to rebuild stockpiles during an uneven rebound from the pandemic.