Global| Feb 13 2013U.S. Import and Export Prices Rebound
by:Tom Moeller
|in:Economy in Brief
Summary
U.S. prices in the foreign trade sector recovered last month following December weakness. Import prices increased 0.6% (-1.3% y/y) after a 0.5% December decline, originally reported as -0.1%. The Action Economics survey looked for [...]
U.S. prices in the foreign trade sector recovered last month following December weakness. Import prices increased 0.6% (-1.3% y/y) after a 0.5% December decline, originally reported as -0.1%. The Action Economics survey looked for prices to rise 0.8%. Petroleum prices led last month's price improvement with a 2.9% recovery (-5.9% y/y) after three months of decline.
Nonpetroleum import prices ticked up 0.1% and were 0.2% higher y/y. Capital goods prices outside of the high-tech area nudged up 0.1% (0.4% y/y) while computers, peripheral & semiconductor costs remained unchanged (-2.2% y/y). Foods, feeds & beverages prices increased 0.5% (-3.6% y/y) while prices for nonauto consumer goods prices gained 0.1% (0.2% y/y). Automotive vehicle costs also ticked up 0.1% (1.5% y/y) but nonoil industrial supplies & material prices were 0.1% lower (+1.3% y/y).
U.S. export prices gained an expected 0.3% (1.1% y/y) in January. Prices were led higher by a 0.8% rise (1.0% y/y) in capital goods prices while motor vehicle & parts prices rose 0.3% (1.0% y/y). These gains were offset by nonauto consumer goods prices which were unchanged (-0.1% y/y). Agricultural product prices fell 1.3% (10.7% 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 is in the AS1REPNA database.
| Import/Export Prices (NSA, %) | Jan | Dec | Nov | Jan Y/Y | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|
| Imports - All Commodities | 0.6 | -0.5 | -0.7 | -1.3 | 0.3 | 10.9 | 6.9 |
| Petroleum | 2.9 | -2.7 | -2.9 | -5.9 | -0.3 | 36.5 | 28.4 |
| Nonpetroleum | 0.1 | 0.2 | -0.1 | 0.2 | 0.3 | 4.5 | 2.8 |
| Exports - All Commodities | 0.3 | -0.1 | -0.6 | 1.1 | 0.4 | 8.1 | 4.9 |
| Agricultural | -1.3 | 0.2 | 0.5 | 10.7 | 2.4 | 22.3 | 7.9 |
| Nonagricultural | 0.5 | -0.2 | -0.7 | 0.0 | 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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