Tag Archives: China

Trade Deficit Widens on Stronger Imports

The U.S. trade deficit widened more than expected in May, as imports rebounded while exports contracted. Goods imports were particularly strong, as automakers pushed to restock inventories. Many European producers have been pushing product to the U.S., given the ongoing weakness at home. We also continue to import a lot of cell phones

Trade Deficit Widens on Drop in Exports

The trade deficit widened to $44.4 billion in January, up from $38.1 billion in December. Exports of industrial supplies and materials were particularly weak; exports of capital goods, foods and vehicles continued to rise. Imports increased marginally across the board. The sharp narrowing of the trade deficit in December was more of an anomaly than [...]

Trade Deficit Narrows on Better Exports

The trade deficit narrowed to $41.5 billion in September, down from $43.8b in August, on a rebound in exports. Gains were fairly broad-based with the exception of vehicle exports, which continued to decline. Agricultural exports increased; at least a portion of those gains, however, was probably due to the higher prices resulting from last summer’s [...]

Production Gains Still Tepid

Industrial production rose 0.4% in September, providing some offset to the 1.4% loss we saw in August. Hurricane Isaac and the idling of production along the Gulf of Mexico shaved 0.3% from production in August. Gains were uneven with mining, utilities and (thankfully) construction leading; consumer goods (mostly vehicles) flatlined after declining sharply in August. [...]

Trade Deficit Widens on Weaker Goods Exports

The U.S. trade deficit widened to $44.2 billion in August from a revised $42.5 billion in July. A broad-based drop in goods exports was the primary source of weakness, as everything from industrial supplies to vehicles and heavy machinery all suffered from weakening growth abroad, primarily in Europe. China held up better than expected as [...]

Philly Fed Manufacturing Index Treading Water

The Federal Reserve Bank of Philadelphia’s Business Outlook Survey registered -1.9 in September, which is essentially flat. This follows larger negatives for the previous two months and suggests business activity is essentially paralyzed at a low level. It is the fifth consecutive negative reading for the index. Manufacturing, however, posted a modest increase, which is [...]

Trade Deficit Narrows On Weaker Imports

The trade deficit narrowed from $50.6 billion in April to $48.7 billion in May. The drop in the deficit was driven by a slide in imports, pointing to a slowdown in everything from consumer spending to manufacturing activity. We also saw a drop in the value of imports of foods, feeds and beverages, which is more reflective of [...]

Central Banks Respond to Global Weakening

Today the European Central Bank (ECB) cut interest rates by 0.25%, to a new historical low of 0.75% for its “refi rate” (the ECB policy target rate.) Furthermore, two other central banks took action: the Bank of England accelerated its quantitative easing program by adding 50 billion pounds ($78 billion) to  its bond-purchasing program. The [...]