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Friday, December 6, 2019 5:29:39 PM EST




Trade Balance
Briefing.com Updated 05-Dec-19 09:27AM ET

The trade deficit for October narrowed to $47.2 billion (Briefing.com consensus -$48.5 billion) from an upwardly revised $51.1 billion (from -$52.5 billion) in September.

The narrowing in the deficit was a function of exports (-$0.4 billion) declining less than imports (-$4.3 billion).

Exports of goods decreased by $0.8 billion, with consumer goods down $0.7 billion, capital goods down $0.4 billion, and automotive vehicles, parts, and engines down $0.3 billion.

Imports of goods decreased by $4.5 billion, with consumer goods down $2.4 billion, and automotive vehicles, parts, and engines down $1.8 billion.

The goods trade deficit with China was $27.8 billion in October versus $28.0 billion in September. Year-to-date, the goods deficit with China stands at $294.2 billion versus $344.9 billion at the same point in 2018.

The real trade deficit of $79.1 billion was 6.6% below the third quarter average, which will compute as a positive input in Q4 GDP models.

The key takeaway from the report, however, is that a decline in both exports and imports for the second straight month is not a hallmark of a global economy running strong.
 
OCTSEPAUGJULJUN
Trade Deficit-$47.2B-$51.1B-$53.5B-$52.7B-$53.7B
Exports$207.1B$207.6B$209.3B$208.9B$208.1B
Imports$254.3B$258.7B$262.9B$261.6B$261.8B