U.S. DEFICIT UP TO $56.6 BLN

BEA - The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $56.6 billion in January, up $2.7 billion from $53.9 billion in December, revised.

Exports, Imports, and Balance

January exports were $200.9 billion, $2.7 billion less than December exports. January imports were $257.5 billion, down less than $0.1 billion from December imports. 

The January increase in the goods and services deficit reflected an increase in the goods deficit of $2.8 billion to $76.5 billion and an increase in the services surplus of $0.1 billion to $19.9 billion.

Year-over-year, the goods and services deficit increased $7.9 billion, or 16.2 percent, from January 2017. Exports increased $9.7 billion or 5.1 percent. Imports increased $17.6 billion or 7.4 percent.

Three-Month Moving Averages 

The average goods and services deficit increased $2.5 billion to $53.8 billion for the three months ending in January. 

• Average exports increased $1.7 billion to $201.6 billion in January. 
• Average imports increased $4.2 billion to $255.4 billion in January. 

Year-over-year, the average goods and services deficit increased $7.2 billion from the three months ending in January 2017.

• Average exports increased $13.1 billion from January 2017. 
• Average imports increased $20.3 billion from January 2017. 

Exports

Exports of goods decreased $3.0 billion to $134.2 billion in January. 

Exports of goods on a Census basis decreased $3.3 billion. 

• Capital goods decreased $2.6 billion. 
• Civilian aircraft decreased $1.8 billion. 
• Industrial supplies and materials decreased $1.3 billion. 
• Fuel oil decreased $0.5 billion. 
• Crude oil decreased $0.2 billion. 
• Other chemicals decreased $0.2 billion. 
• Other goods decreased $1.0 billion. 
• Consumer goods increased $1.2 billion. 
• Artwork, antiques, stamps, and other collectibles increased $0.5 billion. 
• Pharmaceutical preparations increased $0.4 billion. 

Net balance of payments adjustments increased $0.3 billion. 

Exports of services increased $0.3 billion to $66.7 billion in January. 

• The largest increase was in charges for the use of intellectual property ($0.1 billion). 
• The only decrease was in maintenance and repair services ($0.1 billion). 

Imports

Imports of goods decreased $0.2 billion to $210.7 billion in January. 

Imports of goods on a Census basis decreased $0.3 billion. 

• Capital goods decreased $1.3 billion. 
• Civilian aircraft decreased $0.9 billion. 
• Semiconductors decreased $0.5 billion. 
• Consumer goods decreased $0.9 billion. 
• Cell phones and other household goods decreased $1.2 billion. 
• Industrial supplies and materials increased $2.0 billion. 
• Crude oil increased $2.2 billion. 

Net balance of payments adjustments increased $0.2 billion. 

Imports of services increased $0.2 billion to $46.8 billion in January. 

• The largest increase was in other business services ($0.2 billion). 
• The largest decrease was in travel (for all purposes including education) ($0.2 billion).

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Earlier:

2018, March, 4, 10:35:00 U.S. GDP UP 2.5% BEA - Real gross domestic product (GDP) increased at an annual rate of 2.5 percent in the fourth quarter of 2017, according to the "second" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.2 percent.

2018, February, 16, 23:00:00 U.S. INDUSTRIAL PRODUCTION DOWN 0.1% FRB - Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average.

2018, February, 7, 07:40:00 U.S. DEFICIT UP TO $53.1 BLN BEA - The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $53.1 billion in December, up $2.7 billion from $50.4 billion in November, revised. December exports were $203.4 billion, $3.5 billion more than November exports. December imports were $256.5 billion, $6.2 billion more than November imports.

2018, February, 2, 12:10:00 U.S. FEDERAL FUNDS RATE 1.25 - 1.5% U.S. FRB - In view of realized and expected labor market conditions and inflation, the Committee decided to maintain the target range for the federal funds rate at 1-1/4 to 1‑1/2 percent. The stance of monetary policy remains accommodative, thereby supporting strong labor market conditions and a sustained return to 2 percent inflation.

2018, January, 29, 08:20:00 U.S. GDP UP 2.6% BEA - Real gross domestic product (GDP) increased at an annual rate of 2.6 percent in the fourth quarter of 2017 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.2 percent.

2018, January, 19, 12:25:00 U.S. SECURITIES INFLOW $33.8 BLN U.S.DT - The sum total in November of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net TIC inflow of $33.8 billion. Of this, net foreign private inflows were $49.7 billion, and net foreign official outflows were $15.9 billion.

2018, January, 19, 12:20:00 U.S. INDUSTRIAL PRODUCTION UP 0.9% U.S. FRB - Industrial production rose 0.9 percent in December even though manufacturing output only edged up 0.1 percent. Revisions to mining and utilities altered the pattern of growth for October and November, but the level of the overall index in November was little changed. For the fourth quarter as a whole, total industrial production jumped 8.2 percent at an annual rate after being held down in the third quarter by Hurricanes Harvey and Irma. At 107.5 percent of its 2012 average, the index has increased 3.6 percent since December 2016 for its largest calendar-year gain since 2010.