Mar 11, 2005

January Trade Deficit

From General Glut:
Most disconcerting should be the rocketing non-petroleum goods balance, which leapt from -$42.8bn in December to -$46.0bn in January. Y-o-y non-petroleum goods imports are now up a whopping 18.2% while total US exports are up just 13.6%. January 2005 and November 2004 hold pride of place as the two largest non-petroleum trade deficit months, and with oil prices shooting through the roof again, we should expect monthly deficits well over $60bn as the spring progresses.

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