Tag: manufactured goods exports

Monday Economic Report – March 9, 2015

Here is the summary for this week’s Monday Economic Report:

According to the latest NAM/IndustryWeek Survey of Manufacturers, which will be released this morning, business leaders remain mostly confident about activity over the coming months. In fact, 88.5 percent of respondents said they were either somewhat or very positive about the own company’s outlook, and the data are consistent with 3 percent growth in manufacturing production over the next two quarters. Yet, manufacturers who replied to this survey were slightly less upbeat than they were three months ago, when 91.2 percent of respondents were positive in their outlook. Sales, exports and hiring expectations over the next 12 months also decelerated slightly, even as they remain improved from the paces seen a year ago. (continue reading…)

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U.S. Trade Deficit Narrowed Somewhat in January

The Bureau of Economic Analysis and the Census Bureau said that the U.S. trade deficit narrowed somewhat, down from $45.60 billion in December to $41.75 billion. December’s figure exceeded the average of $42.06 billion observed in 2014 as a whole, and it was the highest level of the year. For January, both goods exports (down from $134.22 billion to $128.71 billion) and goods imports (down from $199.23 billion to $190.33 billion) were lower, with the latter falling by more. The trade surplus in the service sector widened marginally, up from $19.42 billion to $19.87 billion. (continue reading…)

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Global Manufacturing Economic Update – February 13, 2015

Here are the files for this month’s Global Manufacturing Economic Update:

Let’s start with some good news. U.S.-manufactured goods exports reached an all-time high in 2014, surpassing $1.4 trillion for the first time, according to Trade Stats Express. Moreover, goods exports from manufacturers grew 1.9 percent in 2014, with exports to the top five markets higher for the year. At the same time, export growth decelerated from the 5.8 percent and 2.6 percent rates of 2012 and 2013, respectively. Sluggish growth abroad and a strengthened U.S. dollar continue to challenge demand. In December, the U.S. trade deficit widened to its highest level of 2014, and the average monthly deficit for the year exceeded that of 2013 ($42.09 billion per month versus $39.70 billion, respectively). (continue reading…)

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Monday Economic Report – February 9, 2015

Here is the summary for this week’s Monday Economic Report: 

Manufacturers in the United States have added roughly 18,800 workers per month on average over the past 13 months, with an average of 29,000 from October through January. This suggests that the momentum in demand and production in the second half of 2014 has led to an uptick in hiring, which is encouraging. Income growth was also higher, with average weekly earnings up 2.0 percent year-over-year in January. At the same time, the larger economy has also seen strong growth, with nonfarm payrolls increasing by nearly 260,000 per month since the end of 2013. The unemployment rate edged up to 5.7 percent, however, as more Americans re-entered the labor force looking for work. The participation rate rose from 62.7 percent to 62.9 percent. (continue reading…)

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U.S. Trade Deficit Increased in December to its Highest Level of 2014

The Bureau of Economic Analysis and the Census Bureau said that the U.S. trade deficit rose to its highest level of 2014, up from $39.75 billion in November to $46.56 billion in December. The trade deficit averaged $42.09 billion per month in 2014, an increase from the $39.70 billion average of 2013. Goods exports were higher in the second half of 2014 ($137.51 billion each month on average) than in the first half ($135.01 billion), which was positive; however, goods imports also increased (up from an average of $196.59 billion to $198.73 billion). (continue reading…)

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U.S. Trade Deficit Narrowed in November; Oil Imports at Lowest Level Since 1994

The Bureau of Economic Analysis and the Census Bureau said that the U.S. trade deficit fell to its lowest level of 2014, down from $42.25 billion in October to $39.00 billion in November. The trade deficit’s decline, however, stemmed from reduced trade in goods in November. The decrease in goods imports (down from $200.19 billion to $195.01 billion) simply outpaced the decline in goods exports (down from $138.58 billion to $136.73 billion). Meanwhile, the service sector trade surplus narrowed marginally (down from $19.36 billion to $19.28 billion).

Petroleum trade flows helped to explain at least part of the decline in the November trade deficit. Petroleum exports increased from $7.17 billion to $8.27 billion; whereas, petroleum imports dropped from $16.87 billion to $15.84 billion. The Census Bureau said that the 188.87 million barrels of crude oil imported in November was the lowest level since February 1994, illustrating the changing dynamics that have come from the U.S.’s renewed energy abundance. It was also likely influenced by sharply lower crude oil prices. (continue reading…)

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U.S. Trade Deficit Edged Marginally Lower in October

The Bureau of Economic Analysis and the Census Bureau said that the U.S. trade deficit edged marginally lower, down from $43.60 billion in September to $43.43 billion in October. The increase in goods exports (up from $136.04 billion to $138.05 billion) essentially matched the gain in goods imports (up from $198.74 billion to $200.72 billion), with the service sector goods surplus rising from $19.10 billion to $19.24 billion.

Petroleum exports have fallen from $14.13 billion in August to $10.98 billion in October. Much of this decline can be explained by lower crude oil costs. Interestingly, however, petroleum imports have declined by less, down from $27.26 billion in August to $26.22 billion in October. As a result, the petroleum trade deficit has risen from $13.13 billion in August to $15.24 billion in October, its highest point in five months. (continue reading…)

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Monday Economic Report – November 10, 2014

Here is the summary for this week’s Monday Economic Report: 

yoy manufacturing sector employment - nov2014Last week, we received a number of encouraging reports on the state of the manufacturing sector and the U.S. economy. The Institute for Supply Management reported that its manufacturing Purchasing Managers’ Index (PMI) rebounded, up from 56.6 in September to 59.0 in October. This brought the index back up to where it was in August, with both readings at their highest levels since March 2011. This suggests that the manufacturing sector was making healthy gains as we began the fourth quarter, and as further evidence, demand and production were both higher in October. In fact, the new orders and output indices have now been 60 or greater for six straight months. Hiring also picked up. (continue reading…)

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U.S. Trade Deficit Widened Somewhat in September on Reduced Exports

The Bureau of Economic Analysis and the Census Bureau said that the U.S. trade deficit widened somewhat, up from $39.99 billion in August to $43.03 billion in September. This was the highest deficit since May, and it mainly resulted from fewer goods exports (down from $138.65 billion to $136.07 billion). Service-sector exports were also off slightly, down from $59.92 billion to $59.51 billion. In contrast, imports of goods and services were little changed. (continue reading…)

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The U.S. Economy Grew 3.5 Percent in the Third Quarter

The Bureau of Economic Analysis said that real GDP grew an annualized 3.5 percent in the third quarter, slightly higher than my forecast of 3.25 percent. This followed a decline of 2.1 percent in real GDP in the first quarter and a gain of 4.6 percent in the second quarter. As such, the U.S. economy grew a frustratingly slow 1.2 percent at the annual rate in the first half of 2014, which was a major disappointment. Still, consumer and business spending strengthened in the second quarter, and we continued to see gains in these areas in the third quarter, albeit with some easing in the pace of growth. In addition, after seeing net exports serve as a drag toward growth in the first half of the year, they were a positive contributor this time around, which was encouraging. (continue reading…)

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