Keeping you up to date on the latest data releases.
- International Trade
The nominal trade deficit grew by $6 billion in January to a total of $46.3 billion, the highest level in seven months. Exports rose $4.4 billion to $167.7 billion and imports expanded $10.5 billion to $214.1 billion. The 5.2 percent jump in imports, the most since March 1993, can be attributed to petroleum (4.7 percent) and increased purchases of industrial supplies and consumer goods. The increase in exports, 2.7 percent from last month, stems from increases in industrial supplies and materials as well as automotive vehicles and parts. Since January 2010, U.S. exports have grown 15.9 percent, while imports have risen 19.3 percent. Rising crude oil prices, up 0.4 percent from December, accounted for nearly half of the increase of both imports and exports. In turn, the sharp rise in imports and exports contribute to the widening deficit and reflect the expansion of the U.S. economy.