Keeping you up to date on the latest data releases.
- International Trade
In November, the US trade deficit contracted by $5.0 billion to −$34.3 billion after contracting $3.6 billion in October. November’s trade deficit came in below the consensus forecast of $40.0 billion. The contraction was driven by a 0.9 percent monthly increase in exports and a −1.4 percent monthly decrease in imports. November marks the first monthly decrease in imports since June. On a year-over-year basis, imports fell −1.1 percent, also declining for the first time since June. Exports climbed 5.2 percent on a yearly basis in November after increasing 5.2 percent in October. The overall contraction in the trade deficit in October and November suggests that trade may positively impact fourth quarter GDP.