2017 Economic Calendar
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International Trade in Goods  
Released On 1/26/2017 8:30:00 AM For Dec, 2016
PriorPrior RevisedConsensusConsensus RangeActual
Balance$-65.3 B$-65.5 B$-66.0 B to $-63.5 B$-65.0 B
Exports % change-1.0 %-0.8 %3.0 %
Imports % change1.2 %1.4 %1.8 %

Exports shot 3.0 percent higher in December but were matched by the larger category of imports which rose 1.8 percent, a combination that keeps the monthly trade deficit little changed at $65.0 billion in December vs $65.3 billion in November. The Econoday consensus was looking for a bit wider gap in December, at $65.5 billion.

Export strength is in the largest component, that is capital goods which include aircraft and which rose 7.3 percent in the month to $45.0 billion. A small gain in exports of industrial supplies offset a small decline in exports of foods.

On the import side, autos show the largest monthly rise at 5.4 percent to $30.9 billion. Imports of capital goods rose 2.0 percent to $50.4 billion with industrial supplies up 2.2 percent and foods up 1.3 percent.

The strength in capital goods readings is a positive that points to improvement in global business investment. Otherwise, today's results are close enough to expectations not to unsettle the outlook for tomorrow's fourth-quarter GDP report where growth of 2.2 percent is expected.

Consensus Outlook
Hit by sharp declines in exports, the nation's trade deficit in goods widened sharply in November, to $66.6 billion (revised from $65.3 billion in the advance report). Adding to the deficit was a rise in imports centered in consumer goods. Forecasters see December's trade deficit in goods narrowing $1.1 billion to $65.5 billion.

The Census Bureau is now publishing an advance report on U.S. international trade in goods. The Bureau of Economic Analysis will incorporate these data into its estimates of exports and imports for the advance GDP estimates. This is expected to reduce the size of revisions to GDP growth in the second estimates.

Note that data in the advance goods report are accounted for on a census basis and can differ slightly from subsequent data in the international trade report where goods data are accounted for on a balance of payment basis to adjust for changes in ownership that can occur without goods passing into or out of the US.  Why Investors Care

2017 Release Schedule
Released On: 1/262/283/284/275/256/287/278/289/2810/2611/2812/28
Release For: DecJanFebMarAprMayJunJulAugSepOctNov

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