Keeping you up to date on the latest data releases.
- International Trade
In November, the U.S. trade deficit expanded by $6.7 billion to a level of $48.7 billion. The $6.7 billion widening in November’s trade deficit was largely unexpected since consensus forecasts had predicted a contraction of $0.9 billion. After contracting in October, both imports and exports increased in November. The large fluctuation in imports and exports from October to November was likely driven by adjustments of inventory from hurricane Sandy which had disrupted trade flows in October. Imports rose 3.8 percent to a level of $231.3 billion and posted the largest monthly increase since March 2012. Exports climbed 1.0 percent in December to a level of $182.6 billion. On a year-over-year basis, imports advanced 2.6 percent after posting declines of −0.7 percent the month prior. Exports posted yearly gains of 3.3 percent after averaging 4.6 percent yearly gains throughout 2012. Should the deficit continue to widen in December, trade will likely negatively impact fourth quarter GDP calculations.