- Australia: Construction Work Done (Q3)
- Japan: Labor Productivity Statistics, Banking Accounts Regional Banks and Domestic Banks, Financial Institutions Accounts (Sep)
- Korea: Consumer Survey Index (Nov); Singapore: IP (Oct)
- US: S&P Case Shiller Home Price Indexes, FHFA HPI (Sep), GDP & Corporate Profits (Q3-2nd)
- South Africa: GDP *Moved to SNA 2008*
- Netherlands: BOP *Moved to BPM6*
- more updates...
Economy in Brief
U.S. Consumer Confidence Pulls Back to Five-Month Low
The Conference Board reading of consumer confidence retreated to 88.7 this month (+23.2% y/y) from 94.1 in October...
U.S. FHFA Home Price Index Remains Unchanged
The FHFA U.S. House Price Index remained unchanged during September following a 0.4% August gain...
U.S. Gasoline & Crude Oil Costs Decline; Natural Gas Prices Increas
The price for a gallon of regular gasoline fell to $2.82 last week (-14.3% y/y)...
Finalized GDP in Germany, the Vampire Economy
The German economy in the third quarter posted weak growth...
Chicago Fed National Activity Index Moderates
The Chicago Federal Reserve reported that its National Activity Index (CFNAI) for October fell to 0.14 from 0.29 in September...
Texas Factory Sector Activity Outlook Suggests Continued Growth
The Federal Reserve Bank of Dallas indicated that business conditions remained positive this month...
by Louise Curley March 12, 2012
China's exports of goods declined a record $28 billion in February and imports increased $14.4 billion leaving the country with a $19.3 billion trade deficit, the largest in recent history and $42.2 billion larger than the deficit in 2011. Total exports, imports and the balance of trade are shown in the attached chart. Trade has usually been disrupted by the Chinese New Year--exports tend to decline and imports to rise around the New Year. Until recently, however, the impact had not been particularly unusual. Last year there was a small trade deficit of $2 billions in February for the first time. This year's big deficit suggests that in the future the impact of the New Year on the economy may continue to be more significant than it has been in the past. But, if this is the case, there is likely to be some make up in the coming months when exports will increase and imports decrease
Data on Chinese trade by country, except for the United States and the European Union, are only available with delays of several months. In addition these data do not include the revisions in the data, that are made in the total trade data. However, the 27 countries of the European Union and the United States make up a significant proportion of China's trading partners. Both the United States and the European Union improved their trade balances with China. The U. S. balance declined $4.9 billion to $15.2 billion in February of this year from $20 billion in January, while that in the EU declined much more, $7.8 billion from $11.7 billion to $3.9 billion. China's exports to the U.S. declined $4 billion in January and and imports from the U. S. 1ncreased $0.7 Billion.& For the EU, exports were down $4.5 billion and imports were up $3.3 billion.
|Feb'12||Jan'11||Feb'11||M/M Chg||Y/Y Chg||2011||2010||2000|
|China Total Trade in Goods|
|Trade With USA|
|Trade With EU|