Keeping you up to date on the latest data releases.
- International Trade
In January, the U.S. trade deficit expanded by $6.3 billion to a level of $44.4 billion ($38.1 billion previously). After an unexpectedly large contraction in December due to disruptions from Superstorm Sandy, the trade deficit was predicted to expand in January. However, January’s expansion to $44.4 was above consensus forecasts, which had predicted a level of $42.6 billion. Imports expanded by 1.8 percent to a level of $228.9 billion after falling 2.6 percent last month. Exports fell 1.2 percent to a level of $184.4 billion after climbing 2.3 percent last month. The opposite movements of imports and exports lead to the overall expansion of the deficit. On a year-over-year basis, imports fell −0.9 percent after falling 2.0 percent in December 2012 and expanding 2.31 percent in November 2012. Exports continued to post yearly gains marking a 3.27 percent increase and averaging 3.9 percent growth in the past three months.