October 08, 2018
Goods and Services Trade Deficit
The U.S. Bureau of Economic Analysis indicated that, “The goods and services deficit was $53.2 billion in August, up $3.2 billion from $50 billion in July.” August exports ($209.4 billion), was less than exports in July by $1.7 billion, whereas $262.7 billion was recorded for imports in August which was $1.5 billion more than July imports.
The report mentioned that year-to date from the same period in 2017, there was a 8.6 percent increase in the goods and services deficit. As for exports and imports, they both increased by 8.4 percent to $129.6 billion and $160.6 billion, respectively.
Three-Month Moving Averages
Based on available seasonally adjusted data, for the three months ending in August, the average exports decreased $1.7 billion to $211.2 billion while average imports increased $1.8 billion to $260.9 billion.
In relation to export of goods, these consists of industrial supplies and materials; foods, feeds and beverages which all decreased by $2.4 billion and $1.2 billion, respectively. While, consumer goods increased by $1.6 billion. Additionally, export of services such as financial services and maintenance and repair services both increased by $0.1 billion.
As for imports of goods; automotive vehicles, parts and engines ($1 billion), passenger cars ($0.6 billion), truck, buses and special purpose vehicles ($0.4 billion), consumer goods ($0.9 billion) and cell phones and other households goods ($0.9 billion) all increased. However, imports of services including charges for the use of intellectual property decreased by $0.2 billion and as for other business services, this increased by $0.1 billion.
The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any Action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein