- Korea: Housing Price Index (Apr)
- US: Consumer Sentiment (Apr-final), GDP (Q1 Adv), ECI (Q1)
- Consumer Sentiment Detail (Apr-final)
- US: Selected NIPA Tables (Q1-Adv), Summary key Source Data (Q1)
- Canada: GDP by Industry (Feb), Industrial Product Prices (Mar)
- *Taiwan National House Price Indexes Rebased to 2016=100.*
- Euro area: HICP (Apr-Flash), ECB Survey of Professional Forecasters (Q2)
- Italy: CPI, HICP (Apr-Prelim)
- Brazil: Sao Paolo Capacity Utilization (Mar);Mexico: Debt (Mar);
- more updates...
Economy in Brief
U.S. Employment Cost Index Has Stronger Gain
Lifted by outsized rises in several industries, the employment cost index for civilian workers rose 0.8% (2.4% y/y) during Q1'17...
Chicago Purchasing Managers Index Strengthens
The Chicago Purchasing Managers Business Barometer Index for April increased to 58.3 from 57.7 in March...
EMU Money and Credit Perk Up
There is some noticeable acceleration in EMU money and credit growth...
Durable Goods Orders Improvement Moderates
New orders for durable goods rose 0.7% (4.5% y/y) during March...
U.S. Initial Claims for Unemployment Insurance Increase
Initial unemployment claims for unemployment insurance rose to 257,000 during the week ended April 22...
U.S. Pending Home Sales Ease
The National Association of Realtors (NAR) reported that pending home sales slipped 0.8% ((+0.8% y/y) during March...
by Tom Moeller April 5, 2016
The U.S. foreign trade deficit increased to $47.1 billion during February from $45.9 billion in January, revised from $45.7 billion. It was the deepest trade deficit since August. A deficit of $46.2 billion was expected in the Action Economics Forecast Survey. Exports of goods & services increased 1.0% (-4.2% y/y) while imports rose 1.3% (0.3% y/y).
The trade deficit in goods widened to $64.7 billion from $63.9 billion. Goods exports increased 1.6% (-6.1% y/y) as nonauto consumer goods exports jumped 6.7% (-2.4% y/y). Auto & parts exports increased 2.8% (8.6% y/y) but capital goods exports were off 4.1% (-2.0% y/y). Foods, feeds & beverage exports fell 9.9% (-6.0% y/y) and exports of industrial supplies & materials declined 13.7% (-11.2% y/y). Imports of goods rose 1.5% (-0.6% y/y), fueled by a 7.5% surge (16.6% y/y) in nonauto consumer goods. Foods, feeds & beverage imports increased 4.6% (11.3% y/y) and capital goods imports gained 2.1% (4.6% y/y). Imports of autos & parts declined 5.0% (+11.9% y/y).
The dollar value of energy related imports declined 18.5% (-39.7% y/y) as the quantity fell 6.0% (+9.7% y/y). The dollar value of crude petroleum imports fell 18.8% (-38.0% y/y) while the per barrel cost of crude fell to $27.48 (-44.5% y/y).
The surplus in services trade declined to $17.7 billion from $18.0 billion. Exports of services eased 0.1% (-0.1% y/y) though travel exports jumped 1.2% (3.3% y/y). Financial services exports fell 0.9% ((-4.4% y/y) and transport services exports were off 2.7% (-5.9% y/y). Services imports gained 0.6% (4.4% y/y) as travel imports increased 1.0% (10.0% y/y). Transport services imports rose 0.9% (-0.5% y/y), but financial services imports were off 1.4% (+7.8% y/y).
By country, the trade deficit in goods with China eased to $28.1 billion from $28.9 billion in January. Exports to China fell 7.5% from a year ago, but imports were up 15.8% y/y. The trade deficit with Japan deepened to $5.3 billion from $4.9 billion; exports were down 1.3% from a year ago, but imports rebounded 11.9%. The deficit in goods trade with the European Union deepened to $9.9 billion. Exports to the EU increased 1.2% from a year ago, and imports increased 2.7% y/y.
The international trade data can be found in Haver's USECON database. Detailed figures are available in the USINT database. The expectations figures are from the Action Economics Forecast Survey, which is carried in the AS1REPNA.
|Foreign Trade in Goods & Services (Current Dollars)||Feb||Jan||Dec||Y/Y||2015||2014||2013|
|U.S. Trade Deficit||$47.1 bil.||$45.9 bil.||$44.7 bil.||$38.6 bil.
|$539.8 bil.||$508.3||$478.4 bil.|
|Exports of Goods & Services (% Chg)||1.0||-2.2||-0.3||-4.2||-5.1||2.8||2.8|
|Imports of Goods & Services (% Chg)||1.3||-1.2||0.2||0.3||-3.1||3.4||0.1|