The U.S. March 2013 monthly trade deficit decreased 11% to $38.8 billion. U.S. exports decreased $1.7 billion or -0.9%. Imports declined by $6.5 billion, a -2.8% decrease. Expect an upward revision on the trade component to Q1 GDP, assuming prices were stable.
The U.S. January 2013 monthly trade deficit increased 16.2% to $44.45 billion after December's -20.9% trade deficit implosion. This month is all about oil imports and we suspect Hurricane Sandy potentially affected imports in December and why the wild swings. December had the lowest petroleum related imports since August 2009.
The U.S. December 2012 monthly trade deficit imploded by -20.7% to $38.54 billion. This is the lowest monthly trade deficit since January 2010 when global trade was still affected by the recession. We estimate Q4 GDP will be revised significantly upward as a result.
Q4 2012 real GDP contracted by -0.1%. Inventory investment nose dived, but was not the lone culprit for economic contraction. Exports plunged and took -0.81 real GDP percentage points along with it. Government spending cliff dove and hacked off -1.33 percentage points from 4th quarter gross domestic product as Federal Defense spending declined 22.2% from Q3.
The U.S. November 2012 monthly trade deficit increased by 15.85%. This is an increase of $6.667 billion to give a monthly trade deficit of $48.731 billion. November's U.S. exports increased $1.744 billion or 0.96%. Imports soared by $8.410 billion which is a 3.8% increase from last month. The three month moving average gives a trade deficit of $43.691 billion and a increase of $2.05 billion.
Q3 2012 real GDP shows 3.1% annualized growth, revised from 2.7% in the second estimate. Consumer spending increased more than previously estimated, exports were greater and imports were much less. Q2 GDP was 1.25% in actuality, 1.3% is a rounded figure.
The U.S. October 2012 monthly trade deficit increased by 4.9%, $1.963 billion to $42.24 billion. The trade deficit with China hit an all time monthly record of -$29.466 billion.
Q3 2012 real GDP shows 2.7% annualized growth, revised from 2.0% in the advance report. There was a significant upward revision to inventories, yet consumer spending was revised down. Exports were revised up as trade statistics became more complete. Q2 GDP was 1.25%.
The U.S. September 2012 monthly trade deficit declined by -5.1%, or -$2.25 billion. August's trade deficit was revised down by -$427 million, which gives a 3.1% monthly increase instead of the originally reported 4.1%. While the press touts the lowest monthly trade deficit since December 2010, the reality is September gives the second largest China trade deficit in history.
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