U.S. Trade Deficit Narrowed again in November

January 24, 2011 at 7:00 am

The U.S. trade deficit was $38.31 billion in November, smaller than market expectations for a -$40.5 billion shortfall. October’s deficit was revised to -$38.42 billion from the initially reported -$38.7 billion. The improvement in the trade balance in the month reflected a $1.25 billion (0.8%) rise in exports paired with a $1.14 billion (0.6%) increase in imports. On a volumes basis, however, the goods deficit deteriorated mildly to -$45.2 billion from a revised -$44.8 billion in October.

Exports of consumer goods, food, industrial supplies and materials and capital goods rose in November while manufacturing exports fell with automotive products posting a decline. Imports of industrial supplies and materials, capital goods and food increased, while there were declines in imports of consumer goods, motor vehicles and parts, and other goods. Imports of petroleum products rose by $1.7 billion or 6.7%. Excluding petroleum products, imports posted a small decline in the month. On a volumes basis, exports fell 0.6% in November, barely denting October’s 3.2% rise, while imports slipped by 0.1% building on October’s 1.7% drop. Read More

SOURCE: Action Forex, January 13, 2011

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Entry filed under: Trade.

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