Outlook:The U.S. trade balance looks to have widened slightly, once again, as an incremental pickup in consumer spending and increased corporate investment abroad contributed heavily to the figure.As a result, economists are expecting the deficit to balloon to $56.5 billion, second only to the record $59.3 billion in November, even as a weak dollar continues to provides solace to exporters.Rises in the demand for foreign made automobiles and electronic goods looks to have contributed as employment prospects brightened along with slightly higher earnings growth in the first month of the new year.Additionally, a wider gap could be attributed to increased corporate spending.In attempts to keep pace with an expanding economy and optimistic expectations, businesses ramped up investment spending abroad and increased domestic construction projects.Ultimately, this would conflict with earlier speculation of further interest rate increases as a ballooning deficit tends to erode away at gross domestic output and suggest a slowdown, albeit even momentarily.
Previous:Narrowing 4.9 percent in December, the U.S. trade deficit amounted to $56.4 billion compared with the all time gap of $59.3 billion in the month of November.Contributing to the shortfall were lower crude oil prices, a weaker dollar and evidence of a pickup in global demand.Crude oil prices maintained an average of $36.63 a barrel, the lowest since the end of the summer.As a result, expectations for further considerations of interest rates hikes by policy makers were bolstered as economists estimate further growth in the world's largest economy.However, the overall deficit grew 24 percent to a record $617.7 billion, as imports rose 1.8 percent to a record $113.8 billion.The slimmer figure for December is in line with earlier sentiment expressed by the Federal Reserve as Fed Chairman Alan Greenspan earlier commented on a weaker dollar boosting exports and eventually increasing output.This is of notable mention as the report showed exports soared to $100 billion for the first time.Subsequently, a narrower divide also implies growing domestic spending as corporate investment and construction projects will be raised to keep pace with demand.
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Mon 10 Sep 2018 AA 08:30 GB- GDP, Trade, Output Tue 11 Sep 2018 AA 08:30 GB- Employment Decision A 09:00 DE- ZEW Survey Wed 12 Sep 2018 A 12:30 US- PPI A 14:30 US- EIA Crude A 18:00 US- Beige Book Thu 13 Sep 2018 A 1:30 AU- Employment AA 11:00 GB- Bank of England Decision AA 11:45 EZ- European Central Bank Decision A 12:30 US- Weekly Jobless AA 12:30 US- CPI Fri 14 Sep 2018 A 08:30 GB- GDP AA 12:30 US- Retail Sales A 13:15 US- Industrial Production AA 14:00 US- prelim University of Michigan
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