by Bill McBride on 11/10/2010 09:20:00 AM
Wednesday, November 10, 2010
The Census Bureau reports:
[T]otal September exports of $154.1 billion and imports of $198.1 billion resulted in a goods and services deficit of $44.0 billion, down from $46.5 billion in August, revised.Click on graph for larger image.
The first graph shows the monthly U.S. exports and imports in dollars through September 2010.
After trade bottomed in the first half of 2009, imports increased much faster than exports. Over the last five months, both exports and imports have been relatively flat.
The second graph shows the U.S. trade deficit, with and without petroleum, through September.
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 petroleum deficit decreased slightly in September, and the trade deficit with China decreased slightly (NSA).
The trade deficit will probably increase in October since oil prices increased, and China reported a higher trade surplus for October.
Posted by Bill McBride on 11/10/2010 09:20:00 AM