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Last Update: 10-Feb-12 10:22 ET
Trade Deficit Expands in December
The U.S. international trade deficit widened from $47.1 bln in November to $48.8 bln in December. The Briefing.com consensus expected the deficit to increase to $48.2 bln.
The expansion of the trade deficit was in-line with BEA expectations in the advance release of Q4 2011 GDP. It should not result in a substantial revision to the fourth quarter GDP estimate.
Imports increased by nearly $3.0 bln in December, from $224.6 bln in November to $227.6 bln. Exports increased from $177.5 bln in November to $178.8 bln in December, a gain of just over $1.2 bln.
The goods deficit increased $1.8 bln to $64.3 bln in December. The services surplus remained at $15.5 bln.
Export gains were almost equally split between petroleum shipments ($0.45 bln) and nonpetroleum exports ($0.50 bln).
The increase in imports came primarily from nonpetroleum demand, specifically from pharmaceuticals ($0.7 bln), other household goods ($0.6 bln),automotive vehicles, parts, and engines ($0.5 bln), and civilian aircraft ($0.4 bln). Petroleum imports declined from $37.8 bln in November to $37.6 bln in December.
The expansion of the trade deficit was in-line with BEA expectations in the advance release of Q4 2011 GDP. It should not result in a substantial revision to the fourth quarter GDP estimate.
Imports increased by nearly $3.0 bln in December, from $224.6 bln in November to $227.6 bln. Exports increased from $177.5 bln in November to $178.8 bln in December, a gain of just over $1.2 bln.
The goods deficit increased $1.8 bln to $64.3 bln in December. The services surplus remained at $15.5 bln.
Export gains were almost equally split between petroleum shipments ($0.45 bln) and nonpetroleum exports ($0.50 bln).
The increase in imports came primarily from nonpetroleum demand, specifically from pharmaceuticals ($0.7 bln), other household goods ($0.6 bln),automotive vehicles, parts, and engines ($0.5 bln), and civilian aircraft ($0.4 bln). Petroleum imports declined from $37.8 bln in November to $37.6 bln in December.
