Recent Updates
- Singapore: International Trade Press (Apr)
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- Korea: Foreign Exchange Transactions, Household Loans (Apr)
- Pakistan: Foreign Currency Deposits and Utilization (APR)
- Euro area: Spring Update (2023)
- more updates...
Economy in Brief
Surging Imports Send the EMU Trade Scene Deeper into Deficit
The trade balance for the Euro Area fell sharply to 17.5 billion euros in March...
U.S. Import Prices Hold Steady While Export Prices Rise in April
Import prices held steady m/m (+12.0% y/y) in April...
EMU IP Drops Month-to-Month and Year-over-Year
Industrial output among EMU members fell by 1.8% month-to-month in March...
U.S. Producer Price Inflation Moderates in April
The Producer Price Index for Final Demand increased 0.5% during April...
U.S. Housing Affordability Plunges in March
Affordable homes are in short supply...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
The Many Links of Inflation Cycle: Hard Landing Is Needed to Crack Them
Peak Inflation & Fed Policy: A Relationship Which Should Worry The Fed And Scare Investors
Why Have the Yields on TIPS Been Negative in the Past Two Years?
"Core" GDP Suggests Economy Gained Momentum in Q1:2022
by Tom Moeller April 27, 2022
• Export gain is firm.
• Import surge is broad-based.
The advance estimate of the U.S. international trade deficit in goods deteriorated to a record $125.32 billion in March from $106.35 billion in February. A $105.0 billion deficit had been expected in the Action Economics Forecast Survey. Exports of goods increased 7.2% (18.1% y/y) following a 1.7% February rise. Imports gained 11.5% (25.6% y/y) after increasing 0.6% in February.
The March increase in exports reflected a 3.1% (22.0% y/y) rise in non-auto consumer goods which followed a 6.7% February rise. Exports of foods, feeds & beverages rose 4.7% last month (11.3% y/y) about the same as in the prior month. Industrial supplies & materials exports rose 12.3% last month (30.9% y/y) after rising 3.0%. Exports of autos & parts rose 8.4% (1.5% y/y) following a 2.3% decline. Capital goods exports improved 1.7% in March (9.4% y/y) after falling 1.5% in February.
Imports increased as industrial supplies & materials strengthened 15.0% in March (48.1% y/y) after rising 5.5% in February. Nonauto consumer goods imports improved 13.6% (25.8% y/y) following a 0.7% rise. Imports of autos & parts gained 12.0% (8.0% y/y) which came after a 9.9% decline. Capital goods imports rose 7.6% (18.3% y/y), after a 1.4% gain. Increasing by 6.2% in March (25.1% y/y) were imports of foods, feeds & beverages which followed February's 3.0% decline.
The advance international trade data can be found in Haver's USECON database. The expectation figure is from the Action Economics Forecast Survey, which is in AS1REPNA.