US Trade Deficit fell 21% in November, but is Still a Big Hit to 4th Quarter GDP

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.

December Trade Deficit Up 5.3% on Higher Imports of Cellphones, Drugs and Cars

The Commerce Department report on our international trade in goods and services for December indicated that our seasonally adjusted goods and services trade deficit rose by $2.7 billion to $53.1 billion in December from a revised November deficit of $50.4 billion.

October Trade Deficit Up 8.6%, Revisions Whack 3rd Quarter GDP

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 $3.8 billion to $48.7 billion in October from a revised September deficit of $44.9 billion.

Trade Deficit, Up 9.6% in January, on Track to Clip 78 Basis Points from Q1 GDP

Our trade deficit rose by 9.6% January, as the value of both our exports and our imports increased, but our imports increased by much more.

Over Half a Trillion 2016 Trade Deficit

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.

Further Deterioration of Trade Deficit in November Means A Bigger Hit to 4th Quarter GDP

The Census report on our international trade in goods and services for November indicated that our seasonally adjusted goods and services trade deficit rose by $2.88 billion to $45.24 billion in November from a revised October deficit of $42.36 billion.

The 18% Jump in Our October Trade Deficit Portends a Big Hit to Q4 GDP

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.

August PCE, trade balance, construction, factory and wholesale inventories mostly down, but all add to Q3 GDP

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.

July PCE, Trade Deficit, Construction, and Factory Inventories Point to 3rd Qtr GDP Growth Over 3%

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.

The 10.1% Increase in the May Trade Deficit Was Not Bad Enough to Hit GDP

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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