RSS Feed by Calculated Risk on 9/12/2010 09:00:00 AM
Sunday, September 12, 2010
Summary for Week ending Sept 11th
It was a light week for economic news ...
The Census Bureau reports:
[T]otal July exports of $153.3 billion and imports of $196.1 billion resulted in a goods and services deficit of $42.8 billion, down from $49.8 billion in June, revised.
Click on graph for larger image.The first graph shows the monthly U.S. exports and imports in dollars through June 2010.
Although imports declined in July, imports have been increasing much faster than exports.
The second graph shows the U.S. trade deficit, with and without petroleum, through July.
The blue line is the total deficit, and the black line is the petroleum deficit, and the red line is the trade deficit ex-petroleum products.The decrease in the deficit in July was across the board, although the oil deficit only declined slightly. The trade gap with China declined slightly to $25.92 billion from $26.15 billion in June - essentially unchanged.
This is the 2nd largest monthly trade deficit since the 2008 collapse in trade.
The Federal Reserve reports:
In July, total consumer credit decreased at an annual rate of 1-3/4 percent. Revolving credit decreased at an annual rate of 6-1/4
percent, and nonrevolving credit increased at an annual rate of 1/2 percent.
This graph shows the increase in consumer credit since 1978. The amounts are nominal (not inflation adjusted).Revolving credit (credit card debt) is off 15.2% from the peak. Non-revolving debt (auto, furniture, and other loans) is off 1.1% from the peak. Note: Consumer credit does not include real estate debt.
Best wishes to all.
