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Goods Trade Deficit Expands a Shocking 9.2% as Exports Plunge

In September, the US had steep plunge in exports but a rise in imports. The net result is a record deficit.
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Goods Balance of Trade and Advance Goods Balance 2021-09

The Census Bureau's Advance Trade Indicator supports another record trade deficit in goods. 

  • Exports fell from 149,111 million to 142,152 million
  • Imports rose 237,275 million to 238,403 million.

The net impact is an increase in the international trade deficit of 9.2% to a record 96,252 million. 

Bond yields plunged on the news. 

The BEA reports the advance estimate for third-quarter GDP tomorrow.

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It is increasingly likely we see a negative number and highly likely we see a negative bottom line number in real final sales, the true measure of GDP.

As I have stated, the economy is cooling rapidly, and it's not just in the US. It's global.

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