Our trade deficit fell 21.0% in November, the largest one month drop since the 2009 recession, as both the value of our exports and the value of our imports decreased, but the value of our imports decreased by quite a bit more.
The U.S. December 2016 monthly trade deficit decreased 3.2% from last month and now stands at $44.3 billion. For all of 2016, the trade deficit increased 0.4% from the year previous. While that doesn't sound like much, the total amount is -$502.3 billion. This is in spite of petroleum imports being much less of a trade deficit factor.
Our trade deficit rose by 17.8% in October as the value of our exports decreased and the value of our imports increased. The Census report on our international trade in goods and services for October indicated that our seasonally adjusted goods and services trade deficit rose by more than $6.4 billion to $42.6 billion in October from a revised September deficit of $36.2 billion.
Over recent days, we’ve seen the release of five reports which provide us with the lions share of contributions to 3rd quarter GDP for the months of July and August.
In addition to the Employment Situation Summary for August from the Bureau of Labor Statistics, last week also saw the release of four July reports that give us the lion's share of that month's contribution to 3rd quarter GDP, and in some cases suggest revisions to 2nd quarter GDP. This post reviews those four reports, with an eye to assessing their impact on GDP growth.
Our trade deficit increased by 10.1% in May as the value of our exports decreased and the value of our imports increased. The Census report on our international trade in goods and services for May indicated that our seasonally adjusted goods and services trade deficit rose by $3.8 billion (rounded) to $41.1 billion in May from a revised April deficit of $37.4 billion.
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