Data Updates

Data Updates

Keeping you up to date on the latest data releases.

August 2014

  • 01.13.2012
  • International Trade
  • In November, the U.S. trade deficit expanded by $4.5 billion to −$47.8 billion, up from October’s revised $43.3 billion (−$43.5 billion previously). November’s widening is larger than consensus forecasts, which had predicted November’s deficit to be −$45 billion. The goods deficit widened by $4.6 billion while the surplus on services increased by a modest $0.1 billion, hardly offsetting the rapid expansion of the good deficit which in turn drove the expansion of the overall trade deficit. The combination of imports of goods jumping $3.1 billion and exports of goods falling $1.5 billion contributed to the widening of the goods deficit. Strong imports of goods also drove the overall level of imports, which increased by $3 billion to $225.6 in November after declining for four of the past five months. Exports of goods were also a driver of overall exports, which declined for the second consecutive month falling by $1.6 billion to $117.8 billion. On a year-over-year basis, imports continue to post double-digit gains, increasing 12.7 percent, up from October’s 11.9 percent yearly pace. Despite decreasing from October to November, exports posted 10.3 percent yearly gains. The year-over-year increase is a deceleration from October’s 12.3 percent yearly pace and an even further decline from September’s 16.1 percent gain. If exports continue to slow in the coming months, they then have the potential to negatively impact GDP calculations.