Global| May 14 2013U.S. Import and Export Prices Fall Further
by:Tom Moeller
|in:Economy in Brief
Summary
Prices in the U.S. foreign trade sector weakened further last month. Import prices fell 0.5% (-2.6% y/y) during April after a 0.2% March decline, earlier reported as -0.5%. The Action Economics survey looked for a 0.4% drop in prices. [...]
Prices in the U.S. foreign trade sector weakened further last month. Import prices fell 0.5% (-2.6% y/y) during April after a 0.2% March decline, earlier reported as -0.5%. The Action Economics survey looked for a 0.4% drop in prices. Lower petroleum prices again led last month's overall price decline with a 1.9% drop (-9.5% y/y).
Nonpetroleum import prices again slipped 0.1% (-0.3% y/y) and have been unchanged over the last six months. Nonoil industrial supplies & material costs fell 0.4% (-0.7% y/y) while motor vehicle & parts prices were off 0.3% (0.0% y/y). Capital goods prices outside of the high-tech area slipped 0.2% (-0.4% y/y) and computers, peripheral & semiconductor costs declined 0.2% (-1.1% y/y) for the third consecutive month. Prices for foods, feeds & beverages fell 0.5% (-0.9% y/y), down following two months of strength. Moving up by 0.3% (0.3% y/y) were nonauto consumer goods prices.
U.S. export prices also were weak. They fell 0.7% (-0.9% y/y) in April following a 0.5% March decline, revised from -0.4%. That drop was versus expectations for a 0.2% shortfall. Agricultural export prices fell 2.2% (+4.2% y/y), down for the third month this year. Nonagricultural prices were off by 0.5% (-1.5% y/y) as nonauto consumer goods prices fell 0.3% (-0.8% y/y) for the third consecutive month. Capital goods prices also were off 0.2% (0.6% y/y) while motor vehicle & parts prices were unchanged (0.4% y/y) for a second month.
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 is in the AS1REPNA database.
| Import/Export Prices (NSA, %) | Apr | Mar | Feb | Apr Y/Y | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|
| Imports - All Commodities | -0.5 | -0.2 | 0.9 | -2.6 | 0.3 | 10.9 | 6.9 |
| Petroleum | -1.9 | -0.6 | 4.0 | -9.5 | -0.3 | 36.5 | 28.4 |
| Nonpetroleum | -0.1 | -0.1 | 0.0 | -0.3 | 0.3 | 4.5 | 2.8 |
| Exports - All Commodities | -0.7 | -0.5 | 0.7 | -0.9 | 0.4 | 8.1 | 4.9 |
| Agricultural | -2.2 | -1.9 | 2.0 | 4.2 | 2.4 | 22.3 | 7.9 |
| Nonagricultural | -0.5 | -0.3 | 0.6 | -1.5 | 0.1 | 6.6 | 4.6 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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