- US: Advance Durable Goods (Mar)
- US: Regional Building Permits (Mar and YTD)
- UK: CBI Distributive Trades Survey (Apr)
- South Africa: Leading Indicators (Feb), PPI (Mar); Israel: Balance Sheet (Feb); Kuwait: CPI (Mar); Turkey: Capacity Utilization Rate, Business Tendency Survey (Apr); Qatar: Banks Performance Indicators (2013)
- Estonia: MFI Loans & Deposits (Mar); Poland: Retail Sales, IP, Unemployment, Industrial New Orders, Average Gross Wages (Mar),
- more updates...
Economy in Brief
U.S. Mortgage Loan Applications Decline as Interest Rates Tick Higher
The MBA total Mortgage Market Volume Index declined 3.3% last week (-59.2% y/y)...
Italian Trade Trends: A One Month Back-off
Italian exports and imports are both engaged in a longer-term trend of sweeping upward...
U.S. State Unemployment Rates Continue Downward
The overall U.S. unemployment rate declined last month to 6.7% from 10.0% at its late-2009 peak...
U.S. Home Price Index from FHFA Firms Again
The U.S. House Price Index from the Federal Housing and Finance Agency (FHFA) increased 0.6% during February...
U.S. Existing Home Sales Momentum Remains Weak
Sales of existing single-family homes in March slipped 0.2% (-7.5% y/y) to 4.590 million (AR)...
U.S. Gasoline Prices Rise With Seasonal Pressures
The price for a gallon of regular gasoline increased to $3.68 last week, up 4.2% y/y...
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|