by Mish

The Bloomberg Econoday consensus estimate for international trade was -66.0billion in a range of -68 billion to -64.8 billion. The report shows -69.2 billion.

The nation’s goods gap widened sharply in January, to $69.2 billion which is well beyond December’s revised $64.4 billion and outside Econoday’s low estimate. Imports of consumer goods and also vehicles are once again the source of the trade mismatch, surging 4.8 percent and 2.9 percent respectively and helping to lift total imports by 2.3 percent. Exports fell 0.3 percent with weakness in capital goods, down a very sharp 4.6 percent, the unwanted standout feature, one that may deepen in the months ahead based on yesterday’s durable goods report where related orders proved weak. This report will be bringing down early first-quarter GDP estimates.

Trade in Goods by Category

Image placeholder title

The above charts from Census Bureau Advance Report.

Consumer goods account for 26.6% of imports. In January, consumer goods imports rose 4.8%. Thus, consumer goods accounted for over half of the 2.3% increase in imports.

Exports look anemic, especially capital goods exports.

Also see GDP Unexpectedly Undershoots Consensus: What’s Ahead?

Mike “Mish” Shedlock

Trade Deficit Widens, Exports Weak: Economists Miss the Mark

The Census Bureau reports the International Trade Deficit in Goods widened by $2.5 billion (3.8 percent), with exports down and imports up.

Trade Deficit Widens as Imports Rise More Than Exports

The international trade deficit was $69.7 billion in November, up $1.6 billion from $68.1 billion in October.

Trade Deficit Widens, Exports Flat, Imports Rise: Trump Will Howl

For October, exports were down less than $0.1 billion while imports rose $3.8 billion.

Trade Deficit Unexpectedly Widens (And It Will Get Worse)

The trade deficit widened to $-74.4 billion from $-72.3 billion. Economists expected the deficit to shrink slightly.

Trade Deficit Widens: Cascade of Bad News Accelerates, Trump Will Howl

The International Trade in Goods and Services report shows the trade deficit widened to $47.6 billion in April from $45.3 billion in March.

Import Prices Dip as Expected, Export Prices Unexpectedly Dip: GDP and Forex Analysis

The BLS’ Import and Export Price Report for June shows Import and Exports prices both declined 0.2% from May. Econoday economists called import prices correctly but expected export prices would be flat.

Import and Export Prices Unexpectedly Dive

Headline price inflation numbers on imports and exports both came in well below consensus estimates.

Net Exports Decline, Trade Deficit Rises: Exports +3.0%, Imports +3.7%

Trump will not exactly be pleased as the trade deficit in goods is headed the wrong way for his liking.

Trade Deficit Jumps 9.5% to 5-Month High: Exports Down, Imports Up

Trump will howl over the latest trade report. The deficit widened 9.5% to a 5-month high. China and the EU led the way.