- US: GDP & Corporate Profits (Q4, 3rd release)
- Canada: Industrial Products & Raw Material Prices (Feb)
- Spain: Flash HICP and CPI, Construction Business Survey Press (Mar)
- Euro area: EC Business and Consumer Surveys (Mar)
- Belize: GDP (Q4)
- Chile: IP (Feb); Brazil: Retail Trade - Rebased 2014=100 (Jan)
- Croatia: Employment, Retail Trade Press (Feb), Earnings (Jan); Bulgaria: PPI (Feb); Montenegro: Wages (Feb); Latvia: Retail Trade (Jan); Lithuania: External Debt Service (Q4);
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Economy in Brief
U.S. Initial Claims for Unemployment Insurance Ease
Initial jobless insurance applications fell to 258,000 (-3.1% y/y) during the week ended March 25...
U.S. Pending Home Sales Jump
The NAR reported that pending home sales increased 5.5% in February to an index level of 112.3...
U.S. Mortgage Loan Applications Remain Little Changed; Variable Rate Apps Surge
The MBA total Mortgage Market Volume Index slipped 0.8% last week (-12.4% y/y)...
La Dolce Vita? Italian Confidence Bumps Higher
Italian business and consumer confidence moved higher in March...
U.S. Consumer Confidence Improves Significantly
The Conference Board Consumer Confidence Index for March strengthened 8.2% (30.7% y/y) to 125.6...
U.S. Energy Product Prices Remain Under Pressure
Regular gasoline prices held steady at $2.32 per gallon last week (12.1% y/y) for the third straight week...
by Tom Moeller December 6, 2016
The U.S. trade deficit in goods and services increased to $42.6 billion during October from $36.2 billion in September, revised $36.4 billion. The Action Economics Forecast Survey expected a $42.0 billion deficit. Total imports strengthened 1.3% (0.8% y/y) during October and recouped a 1.2% drop, as both oil & non-oil imports increased. Exports declined 1.8% (+0.4% y/y) following two months 0.9% increase.
Imports of goods increased 1.5% (0.2% y/y) following a 1.0% decline. Petroleum product imports jumped 3.4% (12.1% y/y), as the price per barrel of crude oil rose to $40.0, the highest level in three months. The quantity of energy-related petroleum product imports declined 3.3% (+9.8% y/y). Nonpetroleum goods also were strong and posted a 1.3% rebound (-0.4% y/y) following a 1.0% drop. Among major categories, capital goods rebounded 2.2% (-0.6% y/y) and reversed most of their 3.3% September drop. Nonauto consumer goods imports jumped 5.0% (-2.5% y/y) following three months of substantial decline, and industrial supplies & materials imports eased 0.9% (+4.2% y/y). Foods, feeds & beverage imports ticked 0.2% higher 6.1% y/y) while autos & parts imports declined 2.2% (-0.2% y/y). Other goods imports jumped 2.2% (-0.6% y/y). Services imports increased 0.5% (3.4% y/y) following a 2 .0% decline. Travel imports rose 0.2% (7.3% y/y) and transport imports gained 2 .4% (4.1% y/y).
Exports of goods declined 2.8% (-0.1% y/y) after a 1.1% increase. Foods, feeds & beverage exports were down 11.1% (+11.9% y/y). Nonauto consumer goods exports declined 5.4% (-3.4% y/y) and reversed a 4.6% rise. Auto exports eased 0.3% (-1.9% y/y). Capital goods exports were little changed (-1.3% y/y); industrial supplies & materials exports fell 3.0% (+1.1% y/y) and other goods exports rose 2.4% (2.9% y/y). Services exports rose 0.2% (1.5% y/y) after their 0.7% increase in September. Travel exports declined 0.7% (+3.6% y/y) and transport exports gained 1 .6% (-3.7% y/y).
By country, the trade deficit with China improved to $31.1 billion in October from $32.5 in the month before. U.S. exports to China gained 32.8% m/m (11.3% y/y), while imports increased 4.2% (-1.2% y/y). The trade deficit with Japan deepened to $5.9 billion from $4.8 billion. Exports rose 3.5% (10.9% y/y), while imports rebounded 12.5% (8.2% y/y). The trade deficit with the European Union (EU-28) deepened to $13.1 billion from $10.2 billion, as exports declined 1.1% (-5.5% y/y) and imports increased 8.1% (-4.6% y/y). These country data are not seasonally adjusted.
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)||Oct||Sep||Aug||Y/Y||2015||2014||2013|
|U.S. Trade Deficit||$42.6 bil.||$36.2 bil.||$40.6 bil.||$41.6 bil.
|$500.4 bil.||$490.2 bil.||$461.9 bil.|
|Exports of Goods & Services (% Chg)||-1.8||0.9||0.9||0.4||-4.9||3.6||3.4|
|Imports of Goods & Services (% Chg)||1.3||-1.2||1.2||0.8||-3.7||4.0||0.0|
|Petroleum (% Chg)||3.4||0.3||2.1||12.1||-45.5||-9.6||-11.0|
|Nonpetroleum Goods (% Chg)||1.3||-1.0||0.6||-0.4||2.2||6.5||2.0|