Keeping you up to date on the latest data releases.
- International Trade
The nominal trade deficit grew by $2.27 billion in December to $40.58 billion, and the initially reported decrease of $111 million in November was instead revised to a small $38 million widening. Exports rose $2.8 billion in December to $163 billion (1.8 percent), but imports rose nearly twice that much (by $5.1 billion, or 2.6 percent) to $203.5 billion, resulting in the widened deficit over the month. Both exports and imports are at their highest levels in over two years, indicating continued healing in U.S. economic activity and improvement in global economies as well. Since December 2009, U.S. exports have grown 13.7 percent, while imports have expanded 12.8 percent. Although net exports negatively contributed to gross domestic product growth in each of the first three quarters of 2010, it closed the year by adding 3.4 percentage points to real GDP growth in the fourth quarter.