- New Zealand: Commodity Price Index (Sep); Australia: Building Approvals, International Trade (Aug)
- Japan: Monetary Base (Sep), Loans and Discounts Outstanding (Aug), Tankan Employment Conditions (Q3)
- Netherlands: Wages and Earnings (Sep)
- US: Autodata Vehicle Sales (Sep), Construction (Aug), ADP Employment Report (Sep)
- US: Vistage CEO Confidence (Q3), ISM Mfg (Sep)
- more updates...
Economy in Brief
U.S. Light Vehicle Sales Give Back the August Surge
September sales of light vehicles fell back to 16.43 million units (SAAR) from 17.53 million in August...
U.S. ADP Employment Increase Remains Moderate M/M; Factory Hiring Jumps
Private sector employment improved last month to 213,000 (2.2% y/y) following a 202,000 August increase...
Europe's Manufacturing Stays One Half-step ahead of Stagnation
The manufacturing PMI for the European Monetary Union edged lower to 50.3 in September from its already weak 50.7 reading in August...
U.S. Construction Spending Eases
The value of construction put-in-place edged 0.8% lower (+5.0% y/y) during August following a 1.2% July increase...
U.S. Consumer Confidence Unexpectedly Deteriorates
The Conference Board reported that their reading of consumer confidence declined to 86.0 this month (+7.2% y/y)...
Chicago Purchasing Managers Index Dips; Inventories Surge
Chicago purchasing managers indicated that their September Business Barometer Index fell to 60.5 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|