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US: Trade balance shows sharp narrowing
Wed, Jan 14 2009, 08:32 GMT
by KBC Market Research Desk
In November, the US trade deficit showed a sharp contraction. The trade deficit came out at -$40.4B (from -$56.7B), while the consensus expected a figure of -$51.0B. Looking at the details, exports dropped by 5.8% M/M (from $151 538 to $142 803) and imports plunged by 12.0% M/M (from $208 228 to $183 245). Exclud-ing petroleum, the trade deficit narrowed from -$24.429 to -$21.057 in November, which indicates that part of the narrowing was due to lower oil prices. The trade balance figures show what is typical for periods of recession: sharp declines in both imports and exports.
Other: UK trade deficit widens due to a plunge in exports
In the UK, the trade deficit widened more than expected in November. The total trade balance came out at -£4 478, while the consensus expected a figure of -£3 700. The October figure was upwardly revised from -£3 867 to -£3 857. Exports dropped by 5.8% M/M in November, while imports fell by 1.8% M/M. These data in-dicate that the weakness of the pound was unable to boost demand for UK goods.
Published on Wed, Jan 14 2009, 10:51 GMT
Archive
- Other: Irish consumer mood improved sharply in January
Published On Tue, Feb 9 2010, 09:04 GMT - US: Payrolls decline again due to bad weather
Published On Mon, Feb 8 2010, 09:10 GMT - US: Claims surprise again on the upside
Published On Fri, Feb 5 2010, 09:05 GMT - US: ADP report shows further easing in job losses
Published On Thu, Feb 4 2010, 08:48 GMT - US: Pending home sales stabilize in December
Published On Wed, Feb 3 2010, 08:53 GMT
KBC Bank
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http://www.kbc.be/dealingroom | piet.lammens@kbc.be
Legal disclaimer and risk disclosure
This non-exhaustive information is based on short-term forecasts for expected developments on the financial markets. KBC Bank cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct or consequential loss arising from any use of this document or its content. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. Although information has been obtained from and is based upon sources KBC believes to be reliable, KBC does not guarantee the accuracy of this information, which may be incomplete or condensed. All opinions and estimates constitute a KBC judgment as of the data of the report and are subject to change without notice.Related reports
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