Recent Updates

  • Belarus: Other Depository Corporations Survey, Broad Money Indicators, Central Bank Survey (Sep)
  • Turkey: NCI Economic Activity Index (Oct)
  • Germany: Wholesale Trade Prices (Sep), Balance Sheet (Sep-Prelim)
  • Spain Regional: Social Security Affiliations EOM (Sep)
  • more updates...

Economy in Brief

U.S. Import and Export Prices Rebound
by Tom Moeller  August 14, 2019

Import prices improved 0.2% (-1.8% y/y) during July following a 1.1% June decline, revised from -0.9%. A 0.1% easing had been expected in the Action Economics Forecast Survey. These figures are not seasonally adjusted and do not include import duties. Export prices also rose 0.2% (-0.9% y/y) in July after June's 0.6% decline, revised from -0.7%. The Action Economics survey expected m/m price stability.

The rise in import prices last month reflected a 1.9% rebound (-5.9% y/y) in petroleum import costs following a 7.0% decline. Nonpetroleum import prices were stable last month (-1.3% y/y). Prices of imported industrial supplies increased 0.9% (-4.7% y/y). Industrial materials prices excluding petroleum rose 0.1% (-4.3% y/y). Prices of nonauto consumer goods rose 0.2% (-0.6% y/y). Working lower were imported foods, feeds and beverages prices which eased 0.5% (+2.1% y/y). Motor vehicle & parts prices fell 0.3% (-0.8% y/y) and capital goods prices slipped 0.1% (-1.3% y/y).

The overall export price rise in July reflected strength in a few categories. Agricultural commodity prices rose 0.4% (3.7% y/y) while nonagricultural commodity prices gained 0.2% (-1.5% y/y). Prices of exported industrial supplies rose 0.6% (-5.5% y/y) and prices of exported food, feeds beverages also improved 0.6% (4.8% y/y). Elsewhere, pricing behavior was tame. Capital goods prices eased 0.1% (+0.6 y/y) following two months of stability. Nonauto consumer goods prices rose 0.2% (0.7% y/y) while motor vehicle & parts prices eased 0.1% (+0.5% y/y).

The import and export price series can be found in Haver's USECON database. Detailed figures are available in the USINT database. The expectations figure from the Action Economics Forecast Survey is in the AS1REPNA database.

Import/Export Prices (NSA, %) Jul Jun May Jul Y/Y 2018 2017 2016
Imports - All Commodities 0.2 -1.1 0.2 -1.8 3.1 2.9 -3.3
  Petroleum & Petroleum Products 1.9 -7.0 3.5 -5.9 22.0 26.6 -19.7
  Nonpetroleum 0.0 -0.4 -0.3 -1.3 1.3 1.1 -1.5
Exports - All Commodities 0.2 -0.6 -0.3 -0.9 3.4 2.4 -3.2
  Agricultural 0.4 2.5 -1.2 3.7 0.6 1.5 -5.4
  Nonagricultural 0.2 -1.0 -0.2 -1.5 3.7 2.5 -3.0
close
large image