FXstreet.com (Barcelona) – US deficit in goods and services has narrowed in December to $58.8 billion from $63.1 billion in November, lower than the $61B expected, as exports increased and imports declined, according to data released by the US Census Bureau.
In December, exports increased $2.2 billion more than November’s $142.2 billion, whereas imports were $2.2 billion less than November imports of $205.3 billion. The goods deficit decreased $4.6 billion from November to $68.2 billion, while the services surplus decreased $0.2 billion to $9.5 billion.
According to Ian Shepherdson, Chief U.S. Economist at High Frequency Economics these are the reasons of the deficit’s decline: “The deficit was pushed down by a 1.1% rise in core goods exports - we strip out oil and aircraft - and a 2.7% drop in core imports. An increase in the oil deficit was mostly offset by a rise in the aircraft surplus.”
The goods and services deficit decreased by $ 1.5 billion in December from the same month in 2006 due to a 13.6% increase on exports, which was partially offset by a 8.6% increase on imports.
The outlook for US’s current account looks positive, in Shepherdson’s opinion: “The trends in core trade remain favourable; exports are growing at a steady 12% or so y/y, while the trend in import growth has slowed to less than 4% and shows no sign of levelling off. The trade deficit will fall substantially further over the next few months.”
In December, exports increased $2.2 billion more than November’s $142.2 billion, whereas imports were $2.2 billion less than November imports of $205.3 billion. The goods deficit decreased $4.6 billion from November to $68.2 billion, while the services surplus decreased $0.2 billion to $9.5 billion.
According to Ian Shepherdson, Chief U.S. Economist at High Frequency Economics these are the reasons of the deficit’s decline: “The deficit was pushed down by a 1.1% rise in core goods exports - we strip out oil and aircraft - and a 2.7% drop in core imports. An increase in the oil deficit was mostly offset by a rise in the aircraft surplus.”
The goods and services deficit decreased by $ 1.5 billion in December from the same month in 2006 due to a 13.6% increase on exports, which was partially offset by a 8.6% increase on imports.
The outlook for US’s current account looks positive, in Shepherdson’s opinion: “The trends in core trade remain favourable; exports are growing at a steady 12% or so y/y, while the trend in import growth has slowed to less than 4% and shows no sign of levelling off. The trade deficit will fall substantially further over the next few months.”
Euro Area’s Trade Balance falls well into deficit in December
FXstreet.com (Barcelona) – Euro Zone’s Trade in goods and services with the rest of the world has fallen into deficit in December for the first tome in six months as exports fell considerably on the month, according to the first estimation released by Eurostat.
In December, Euro Zone’s trade balance posted a 4.2 billion euro deficit, down from the 2.4 billion surplus posted in the previous month, revised down from the 3.0 billion previously reported. The reason for the deficit has been the 2.5% decrease in exports which outbalanced the 0.7% increase on imports.
During the whole 2007 year, Euro Area trade has posted a 28.3 billion euro surplus, up from the 9.6 euro deficit recorded in the year 2006.
In December, Euro Zone’s trade balance posted a 4.2 billion euro deficit, down from the 2.4 billion surplus posted in the previous month, revised down from the 3.0 billion previously reported. The reason for the deficit has been the 2.5% decrease in exports which outbalanced the 0.7% increase on imports.
During the whole 2007 year, Euro Area trade has posted a 28.3 billion euro surplus, up from the 9.6 euro deficit recorded in the year 2006.
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