U.S. Trade Deficit Widens In May As Exports Slump

RTTNews | 447 hari yang lalu

(RTTNews) - A report released by the Commerce Department on Thursday showed the U.S. trade deficit widened in the month of May amid a steep drop by the value of exports.

The Commerce Department said the trade deficit climbed to $71.5 billion in May from a revised $60.3 billion in April.

Economists had expected the trade deficit to increase to $71.0 billion from the $61.6 billion originally reported for the previous month.

The wider trade deficit came as the value of exports tumbled by 4.0 percent to $279.0 billion in May after surging by 3.4 percent to $290.6 billion in April.

The report showed a steep drop in exports of industrial supplies and materials as well as a decrease in exports of capital goods, while exports of consumer goods increased.

Meanwhile, the Commerce Department said the value of imports edged down by 0.1 percent to $350.5 billion in May after plummeting by 16.4 percent to $350.8 billion in April.

A notable decrease in imports of consumer goods was largely offset by a jump in imports of automotive vehicles, parts, and engines.

"Compared to Q1 levels, imports are down meaningfully, implying a major GDP contribution from trade of more than 3ppts," said Bernard Yaros, Lead U.S. Economist at Oxford Economics.

He added, "That said, the true health of the economy will be better distilled by the consumer and business spending figures, which are showing signs of weakness."

The report also said the goods deficit widened to $97.5 billion in May from $86.3 billion in April, while the services surplus edged down to $26.0 billion in May from $26.1 billion in April.

Tag: USD

baca selengkapnya

U.S. Leading Economic Index Unexpectedly Edges Lower In August

A report released the Conference Board on Friday unexpectedly showed a modest decrease by its reading on leading U.S. economic indicators in the month of August. The Conference Board said its leading economic index edged down by 0.1 percent in August after rising by 0.2 percent in July. Economists had expected the index to inch up by 0.1 percent.

RTTNews | 5 hari yang lalu

U.S. Industrial Production Unexpectedly Flat In August

With a jump in utilities output offset by a decrease in manufacturing output, the Federal Reserve released a report on Friday showing U.S. industrial production unexpectedly came in flat in the month of August. The Fed said industrial production was unchanged in August after rising by an unrevised 0.2 percent in July. Economists had expected industrial production to climb by 0.3 percent.

RTTNews | 5 hari yang lalu

U.S. Pending Home Sales Rebound From Six-Month Low In August

A report released by the National Association of Realtors on Thursday showed a modest rebound in pending home sales in the month of August. NAR said pending home sales index rose by 0.3 percent to 71.2 in August after tumbling by 2.6 percent to a revised 71.0 in July. Economists had expected pending home sales to climb by 0.5 percent.

RTTNews | 6 hari yang lalu

Philly Fed Index Pulls Back Off Five-Year High In September

The Federal Reserve Bank of Philadelphia released a report on Thursday showing a smaller-than-expected pullback by its reading on regional manufacturing activity in the month of September. The Philly Fed said its diffusion index for current general activity fell to 37.8 in September after climbing to 47.4 in August, although a positive reading still indicates growth.

RTTNews | 6 hari yang lalu

U.S. Housing Starts Unexpectedly Tumble 2.6% In August

New residential construction in the U.S. unexpectedly saw further downside in the month of August, according to a report released by the Commerce Department on Thursday. The Commerce Department said housing starts tumbled by 2.6 percent to an annual rate of 1.309 million in August after plunging by 9.0 percent to a revised rate of 1.439 million in July.

RTTNews | 6 hari yang lalu

U.S. Jobless Claims Unexpectedly Dip To Lowest Level Since Mid-July

A report released by the Labor Department on Thursday showed an unexpected decline in first-time claims for U.S. unemployment benefits in the week ended September 12th. The Labor Department said initial jobless claims fell to 196,000, a decrease of 10,000 from the previous week's unrevised level of 206,000. Economists had expected jobless claims to inch up to 208,000.

RTTNews | 6 hari yang lalu

Philly Fed Index Pulls Back Much Less Than Expected In September

The Federal Reserve Bank of Philadelphia released a report on Thursday showing a smaller-than-expected pullback by its reading on regional manufacturing activity in the month of September.

RTTNews | 6 hari yang lalu

U.S. Housing Starts Unexpectedly See Further Downside In August

New residential construction in the U.S. unexpectedly saw further downside in the month of August, according to a report released by the Commerce Department on Thursday.

RTTNews | 6 hari yang lalu

EURUSD	1.13839	GBPUSD	1.32427
USDJPY	158.099	USDCAD	1.41012