- US: Quarterly Services Survey, Employer Costs for Employee Compensation (Q4)
- Canada: Teranet House Price Index - Press Release (Feb)
- Portugal: CPI (Feb)
- Euro area: IP (Jan)
- South Africa: BOP, GDP (Q4); Turkey: BOP (Jan); Jordan: IP, PPI (Jan), CPI (Feb)
- Brazil: CPI (Feb), IGP-M1 (Feb)
- Kazakhstan: Employment (Feb); Romania: Foreign Trade (Jan);
- more updates...
Economy in Brief
U.S. Small Businesses Optimism Dampened By Many Uncertainties
The NFIB reported that its Small Business Optimism Index declined sharply to 91.4 during February from 94.1 in January...
U.S. Gasoline, Crude Oil and Natural Gas Prices Move Higher
Prices in the energy complex firmed last week...
U.S. JOLTS: Job Openings and Hires Rates Are Stable
The BLS reported in its Job Openings & Labor Turnover Survey (JOLTS) that the job openings rate held at 2.8%...
Italy and Europe Turn the Corner on Growth- But Slowly
Italian GDP edged up ever so slowly in the fourth quarter, registering a gain of 0.3% at an annual rate...
U.S. Food Price Inflation Was Weak Last Year Following Several Years of Strength
Food price increases in 2013 roughly equaled the gain in prices for other goods and services...
IP Holds On To Recovery Trend...Can It Last?
More countries in Europe reported industrial production with the net result showing an upswing in Europe...
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|