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2018-10-08 10:20:00

U.S. DEFICIT UP $3.2 BLN TO $53.2 BLN

U.S. DEFICIT UP $3.2 BLN TO $53.2 BLN

U.S. BEA The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $53.2 billion in August, up $3.2 billion from $50.0 billion in July, revised.

Exports, Imports, and Balance 

August exports were $209.4 billion, $1.7 billion less than July exports. August imports were $262.7 billion, $1.5 billion more than July imports.

The August increase in the goods and services deficit reflected an increase in the goods deficit of $3.6 billion to $76.7 billion and an increase in the services surplus of $0.4 billion to $23.5 billion.

Year-to-date, the goods and services deficit increased $31.0 billion, or 8.6 percent, from the same period in 2017. Exports increased $129.6 billion or 8.4 percent. Imports increased $160.6 billion or 8.4 percent.

Three-Month Moving Averages 

The average goods and services deficit increased $3.6 billion to $49.7 billion for the three months ending in August.

  • Average exports decreased $1.7 billion to $211.2 billion in August.
  • Average imports increased $1.8 billion to $260.9 billion in August.

Year-over-year, the average goods and services deficit increased $5.3 billion from the three months ending in August 2017.

  • Average exports increased $16.1 billion from August 2017.
  • Average imports increased $21.3 billion from August 2017.

Exports 

Exports of goods decreased $1.9 billion to $138.9 billion in August.

    Exports of goods on a Census basis decreased $1.8 billion.

  • Industrial supplies and materials decreased $2.4 billion.
    • Crude oil decreased $0.9 billion.
    • Other petroleum products decreased $0.7 billion.
  • Foods, feeds, and beverages decreased $1.2 billion.
    • Soybeans decreased $1.0 billion.
  • Consumer goods increased $1.6 billion.
    • Artwork, antiques, stamps, and other collectibles increased $0.6 billion.
    • Pharmaceutical preparations increased $0.4 billion.

    Net balance of payments adjustments decreased $0.1 billion.

Exports of services increased $0.2 billion to $70.5 billion in August.

  • Financial services increased $0.1 billion.
  • Maintenance and repair services increased $0.1 billion.

Imports 

Imports of goods increased $1.7 billion to $215.6 billion in August.

    Imports of goods on a Census basis increased $1.6 billion.

  • Automotive vehicles, parts, and engines increased $1.0 billion.
  • Passenger cars increased $0.6 billion.
  • Trucks, buses, and special purpose vehicles increased $0.4 billion.
  • Consumer goods increased $0.9 billion.
  • Cell phones and other household goods increased $0.9 billion.

    Net balance of payments adjustments increased less than $0.1 billion.

Imports of services decreased $0.1 billion to $47.0 billion in August.

  • Charges for the use of intellectual property decreased $0.2 billion. Charges for July included payments for the rights to broadcast the 2018 soccer World Cup.
  • Other business services, which includes research and development services; professional and management services; and technical, trade-related, and other services, increased $0.1 billion.

Real Goods in 2012 Dollars 

The real goods deficit increased $3.8 billion to $86.3 billion in August.

  • Real exports of goods decreased $1.8 billion to $147.8 billion.
  • Real imports of goods increased $2.1 billion to $234.1 billion.

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Earlier:

 N.America
2018, September, 28, 09:40:00

U.S. GDP UP 4.2%

U.S. BEA - Real gross domestic product (GDP) increased at an annual rate of 4.2 percent in the second quarter of 2018, according to the "third" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.2 percent.

 

 N.America
2018, September, 28, 09:35:00

U.S. FEDERAL FUNDS RATE 2.25%

FRB - In view of realized and expected labor market conditions and inflation, the Committee decided to raise the target range for the federal funds rate to 2 to 2-1/4 percent.

 

 

 N.America
2018, September, 21, 10:05:00

U.S. DEFICIT DOWN TO $101.5 BLN

U.S. BEA - The U.S. current-account deficit decreased to $101.5 billion (preliminary) in the second quarter of 2018 from $121.7 billion (revised) in the first quarter of 2018, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.0 percent of current-dollar gross domestic product (GDP) in the second quarter, down from 2.4 percent in the first quarter.

 

 N.America
2018, September, 17, 14:45:00

U.S. INDUSTRIAL PRODUCTION UP 0.4%

U.S. FRB - Industrial production rose 0.4 percent in August for its third consecutive monthly increase. Manufacturing output moved up 0.2 percent on the strength of a 4.0 percent rise for motor vehicles and parts; motor vehicle assemblies jumped to an annual rate of 11.5 million units, the strongest reading since April. Excluding the gain in motor vehicles and parts, factory output was unchanged.

 

 N.America
2018, September, 10, 12:10:00

U.S. UNEMPLOYMENT 3.9%

U.S. DL - The unemployment rate remained at 3.9 percent in August, and the number of unemployed persons, at 6.2 million, changed little.

 

 

 N.America
2018, August, 31, 11:10:00

U.S. GDP UP OF 4.2%

U.S. BEA - Real gross domestic product (GDP) increased at an annual rate of 4.2 percent in the second quarter of 2018, according to the "second" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.2 percent.

 

 N.America
2018, August, 17, 11:30:00

U.S. INDUSTRIAL PRODUCTION UP 0.1%

U.S. FRB - Industrial production edged up 0.1 percent in July after rising at an average pace of 0.5 percent over the previous five months. Manufacturing production increased 0.3 percent, the output of utilities moved down 0.5 percent, and, after posting five consecutive months of growth, the index for mining declined 0.3 percent. At 108.0 percent of its 2012 average, total industrial production was 4.2 percent higher in July than it was a year earlier. Capacity utilization for the industrial sector was unchanged in July at 78.1 percent, a rate that is 1.7 percentage points below its long-run (1972–2017) average.

 

Tags: USA, ECONOMY, FINANCE