Home Logon FTA Investment Managers Blog Subscribe About Us Contact Us

Search by Ticker, Keyword or CUSIP       
 
 

Blog Home
   Brian Wesbury
Chief Economist
 
Bio
X •  LinkedIn
   Bob Stein
Deputy Chief Economist
Bio
X •  LinkedIn
 
  The Trade Deficit in Goods and Services Came in at $66.6 Billion in December
Posted Under: Data Watch • Trade
Supporting Image for Blog Post

 
Implications: More encouraging news on international trade as things continue to improve from the massive recession of 2020.  The trade deficit in goods and services shrunk slightly to $66.6 billion in December, as exports rose faster than imports. But what really matters is that both exports and imports increased, consistent with the economic recovery in the US and global economic activity picking back up.  The total volume of trade (imports plus exports), which signals how much businesses and consumers interact across the US border, grew 2.3% in December, although is still down 4.7% versus a year ago. There has been dramatic improvement, but still a way to go to get back to pre-COVID-19 levels. In fact, imports are now up 3.8% from the pre-pandemic February level and just slightly down 0.2% from December 2019. The gain in imports was led by autos, finished metal shapes, and computers. Some other good news in today's report was that for the 12th month in a row, the dollar value of US petroleum exports exceeded US petroleum imports.  Horizontal drilling and fracking have transformed the global energy market and the US is no longer hostage to foreign oil.  Expect trade to continue expanding in the coming months as business across the US and the world start to get back on their feet as the COVID-19 vaccine continues to roll out. Also, with the holiday season having just passed and economic activity picking back up, dwindling inventories will continue to be replenished as fast as possible.

Click here for a PDF version
Posted on Friday, February 5, 2021 @ 11:13 AM • Post Link Print this post Printer Friendly

These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
Search Posts
 PREVIOUS POSTS
COVID-19 Tracker 02/04/2021
Coronavirus High Frequency Data 02/04/21
Nonfarm Productivity Declined at a 4.8% Annual Rate in the Fourth Quarter
The ISM Non-Manufacturing Index Rose to 58.7 in January
Coronavirus High Frequency Data 02/02/21
The ISM Manufacturing Index Declined to 58.7 in January
AOC and Ted Cruz, Agree!
M2 and C&I Loan Growth
Personal Income Rose 0.6% in December
COVID-19 Tracker 01/28/2021
Archive
Skip Navigation Links.
Expand 20242024
Expand 20232023
Expand 20222022
Expand 20212021
Expand 20202020
Expand 20192019
Expand 20182018
Expand 20172017
Expand 20162016
Expand 20152015
Expand 20142014
Expand 20132013
Expand 20122012
Expand 20112011
Expand 20102010

Search by Topic
Skip Navigation Links.

 
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
Follow First Trust:  
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
Home |  Important Legal Information |  Privacy Policy |  California Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2024 All rights reserved.