- Korea: GDP (Q4); Thailand Auto Sales (Feb)
- Turkey: Capacity Utilization, Business Tendency survey (Mar); South Africa: Tourism & Migration (Jan), Manufacturing Survey (Q1)
- Croatia: Tourism (Jan); Montenegro: Foreign Trade (Feb); Czech Republic: CPI by COICOP (Feb), Registered Employment (Q4); Kazakhstan: Loans & Deposits (Feb); Slovenia: Business Cycle Indicators (Mar); Russia: Employment by Industry (Q4);
- more updates...
Economy in Brief
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
by Tom Moeller October 5, 2016
The U.S. trade deficit in goods and services increased to $40.7 billion during August from an unrevised $39.5 billion in July. The Action Economics Forecast Survey expected a $40.0 billion deficit.
Overall exports increased 0.8% (0.7% y/y) following a 1.9% rise. Exports of goods rose 0.6% (0.7% y/y) after a 3.1% jump. Industrial supplies & materials exports gained 4.2% (-1.6% y/y) after an 11.5% rise. Automotive vehicle & parts exports rose 3.1% (1.0% y/y), the same as they did in July. To the downside, foods, feeds and beverage exports declined 2.3% (+33.9% y/y) following a 33.9% surge powered by soybean exports. Capital goods exports were off 1.6% (-5.5% y/y) on the heels of a 0.5% fall. Nonauto consumer goods exports fell 0.7% (+1.0% y/y). Services exports improved 0.5% (0.3% y/y) after a 0.1% easing as travel exports jumped 1.2% (3.0% y/y). Exports of financial services gained 0.3% (-7.4% y/y) following a 1.8% decline. Charges for the use of intellectual property eased 0.2% (-4.5% y/y) after a 0.1% dip.
Total imports increased 1.2% (-1.2% y/y) after a 0.7% decline. Imports of goods rose 0.6% (-2.5% y/y) following a 1.0% drop. Petroleum product imports increased 2.2% (-12.5% y/y), but the price per barrel of crude oil fell to $39.38 from $41.02. Nonpetroleum product imports rose 0.5% (-1.5% y/y). Foods, feeds & beverage imports rose 2.4% (2.8% y/y) after a 2.0% rise. Capital goods imports also increased 2.4%, but were unchanged y/y. Auto imports rose 0.9% (-3.0% y/y) following a 0.2% easing. Nonauto consumer goods imports fell 0.6% (-5.1% y/y) following a 3.0% drop. Services imports improved 3.6% (4.8% y/y) owing to a 37.7% surge (38.0% y/y) in the use of intellectual property. Travel imports increased 1.6% (9.7% y/y) and financial services imports rose 0.3% (-2.6% y/y).
By country, the trade deficit with China deepened to $33.9 billion, its deepest since October. Exports rose 2.6% (2.4% y/y) while imports jumped 9.5% (-2.0% y/y). The trade deficit with Japan was little changed at $6.0 billion. Exports rose 0.6% y/y while imports strengthened 8.5% y/y. The trade deficit with the European Union deepened to $13.9 billion. Exports rose 3.9% y/y while imports rose 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)||Aug||Jul||Jun||Y/Y||2015||2014||2013|
|U.S. Trade Deficit||$40.7 bil.||$39.5 bil.||$44.7 bil.||$44.6 bil.
|$500.4 bil.||$490.2 bil.||$461.9 bil.|
|Exports of Goods & Services (% Chg)||0.8||1.9||0.8||0.7||-4.9||3.6||3.4|
|Imports of Goods & Services (% Chg)||1.2||-0.7||1.9||-1.2||-3.7||4.0||0.0|
|Petroleum (% Chg)||2.2||-4.9||19.4||-12.5||-45.5||-9.6||-11.0|
|Nonpetroleum Goods (% Chg)||0.5||-0.7||1.2||-1.5||2.2||6.5||2.0|