- Markit PMI: Composite Survey - Dubai (Jan)
- Australia: NAB Business Survey (Jan)
- Japan: Money Stock (Jan)
- US: Avg Temperature and Avg Precipitation (Jan)
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- India: GDP Press Release (Q4, 2015)
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Economy in Brief
OECD LEI Slips But Is Called 'Stable' in December
The OECD has refused to panic over some ongoing erosion in its LEI series...
U.S. Payrolls Increase Moderately; Unemployment Rate Declines; Earnings Strengthen
Nonfarm payrolls increased 151,000 during January following increases of 262,000 during December and 280,000 in November...
U.S. Consumer Credit Usage Ramps Up in December; Remains Steady in 2015
Consumer credit outstanding increased $21.3 billion during December following an unrevised $14.0 billion November gain...
U.S. Trade Deficit Widens Slightly in December
The U.S. foreign trade deficit increased to $43.4 billion in December from November's $42.2 billion...
German Orders Show Building Strength Despite December and Year-Over-Year Weakness
In December, total orders in Germany fell by 0.7%...
U.S. Productivity Decline Lifts Unit Labor Costs
Nonfarm output per hour declined 3.0% at an annual rate (+0.3% y/y) during Q4'15 following a 2.1% Q3 increase...
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|