Last Update: 17-Apr-19 09:19 ET
- The trade deficit narrowed to $49.4 billion in February (Briefing.com consensus -$54.0 billion) from -$51.1 billion in January, as exports were $2.3 billion more than January exports and imports were $0.6 billion more than January imports.
- Exports of capital goods increased $2.1 billion, led by civilian aircraft exports increasing $2.2 billion.
- Exports of industrial supplies and materials decreased $0.4 billion.
- Imports of consumer goods increased $1.6 billion, led by imports of cell phones and other household goods increasing $2.1 billion.
- Imports of industrial supplies and materials decreased $1.2 billion.
- The deficit with China decreased $3.1 billion to $30.3 billion in February.
- The real trade deficit narrowed to $81.7 billion from $83.5 billion in January. That left the first quarter average 5.4% below the fourth quarter average, which will be a positive input for Q1 GDP forecasts.
- The key takeaway from the report is that exports and imports increased in February. That will help temper concerns about the U.S. economy being at risk of slipping into a recession in the near future.