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March Trade Deficit Worse Than Expected; Decline From February Due To Winter Olympic Royalties End

Tyler Durden's picture




 

And just like that Q1 GDP may have turned even more negative, after the March trade deficit ended up being worse than the $40.0 billion expected, printing at $40.4 billion. However, the one offset may be that the February deficit was revised from $42.3 billion to $41.9 billion, in effect being a wash to the Q1 GDP number, which as most already know, is set to be -0.4% at the first revision. Among the reasons for the (smaller than expected) decline in the deficit was a "decrease in imports of services mainly accounted for by a decrease in royalties and license fees, which in February included payments for the rights to broadcast the 2014 Winter Olympic Games." For once (not so) harsh weather (in USSR 2.0) was a boost to the economy.

From the report:

The U.S. monthly international trade deficit decreased in March 2014 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $41.9 billion in February (revised) to $40.4 billion in March as exports increased more than imports. The previously published February deficit was $42.3 billion. The goods deficit decreased $0.6 billion from February to $60.7 billion in March; the services surplus increased $0.9 billion from February to $20.4 billion in March.

Exports

Exports of goods and services increased $3.9 billion in March to $193.9 billion, mainly reflecting an increase in exports of goods. Exports of services also increased.

  • The increase in exports of goods mostly reflected increases in capital goods, in industrial supplies and materials, and in automotive vehicles, parts, and engines. Partly offsetting these increases was a decrease in consumer goods.
  • The increase in exports of services mostly reflected increases in other private services, which includes items such as business, professional, and technical services, insurance services, and financial services, and in passenger fares. Partly offsetting these increases was a decrease in travel.

Imports

Imports of goods and services increased $2.5 billion in March to $234.3 billion, reflecting an increase in imports of goods. Imports of services decreased.

  • The increase in imports of goods was more than accounted for by increases in consumer goods, in foods, feeds, and beverages, in capital goods, and in other goods. Partly offsetting these increases was a decrease in industrial supplies and materials.
  • The decrease in imports of services was mainly accounted for by a decrease in royalties and license fees, which in February included payments for the rights to broadcast the 2014 Winter Olympic Games.

Goods by geographic area (not seasonally adjusted)

  • The goods deficit with the European Union increased from $9.1 billion in February to $11.5 billion in March. Exports increased $3.6 billion to $24.6 billion, and imports increased $6.0 billion to $36.1 billion.
  • The goods deficit with China decreased from $20.9 billion in February to $20.4 billion in March. Exports increased $1.0 billion to $10.8 billion, and imports increased $0.5 billion to $31.2 billion.
  • The goods deficit with Mexico increased from $4.0 billion in February to $5.1 billion in March. Exports increased $1.5 billion to $19.9 billion, and imports increased $2.6 billion to $25.0 billion.
 

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Tue, 05/06/2014 - 08:47 | 4731371 LawsofPhysics
LawsofPhysics's picture

Like it matters.  Que up some more POMO for the MOMO.

Tue, 05/06/2014 - 08:51 | 4731384 Headbanger
Headbanger's picture

But but but.. CNBS says it was a good thing.

http://www.cnbc.com/id/101645517

Tue, 05/06/2014 - 08:58 | 4731414 PR Guy
PR Guy's picture

 

 

And US businesses are being destroyed faster than they are being created...

 

http://www.washingtonpost.com/blogs/wonkblog/wp/2014/05/05/u-s-businesses-are-being-destroyed-faster-than-theyre-being-created/

 

They obviously need to learn what the word 'profit' means:

https://www.youtube.com/watch?v=7QPxDugs0Nw

 

Tue, 05/06/2014 - 09:27 | 4731524 knukles
knukles's picture

Olympic games weather?

Aaaaaaaarrrraaggh!

 

fuck fuck fuck fuck fuck fuck fuckf cukf cufkc fukf cufk gurggle choke choke

Tue, 05/06/2014 - 09:05 | 4731440 SheepDog-One
SheepDog-One's picture

If NYC had nuclear terror attacks, CNBC would be reporting it was better than expected.

Tue, 05/06/2014 - 09:06 | 4731445 Groundhog Day
Groundhog Day's picture

Another valid reason to BTFATH.....1900 or Bust

Tue, 05/06/2014 - 09:26 | 4731526 Sudden Debt
Sudden Debt's picture

If you think it's bad, it means you're a racist...

Tue, 05/06/2014 - 08:49 | 4731378 Winston Churchill
Winston Churchill's picture

From the DXY action overnight someone got this pre release.

Tue, 05/06/2014 - 08:51 | 4731385 Shizzmoney
Shizzmoney's picture

I can't keep up with all of this propserity we are having

Tue, 05/06/2014 - 09:04 | 4731436 LawsofPhysics
LawsofPhysics's picture

Wait a minute, CNBC says ZH is wrong...

 

http://www.cnbc.com/id/101645517

Damnit, headbanger beat me to it.

Tue, 05/06/2014 - 09:10 | 4731458 Groundhog Day
Groundhog Day's picture

1010 WINS's(AM news Radio here in the tri-state) slogan is "ALL NEWS ALL THE TIME"

CNBC's Slogan should be "ALL BULLSHIT ALL OF THE TIME"

Pay me a Royalty on that you Fargon Iceholes

Tue, 05/06/2014 - 09:07 | 4731448 SheepDog-One
SheepDog-One's picture

Saying the defecit hinged on the Winter Olympics is about as stupid as NYC saying they're broke because Aunt Gerttie didn't put a quarter in the parking meter.

Tue, 05/06/2014 - 09:29 | 4731531 knukles
knukles's picture

Well, Auntie Gerttie is a skin flint....

Tue, 05/06/2014 - 10:39 | 4731839 evernewecon
evernewecon's picture

 

 

 

Though I'd guess their consumption's

hurting more than the U.S.', the 

differences seem right for reflecting

the GMO's being returned to Customer

Service.

 

To them the U.S. first nuked its 

Nevada water supply, 

 

http://articles.latimes.com/2009/nov/13/nation/na-radiation-nevada13

 

and then paved over with GMO's

what was once a world treasure, the

U.S. bread basket.

 

It's been at least a year since 

most Europeans removed GMO's from

their markets, but what these

differences seem a good match with

what yet remained.

 

You can be sure Eur's where 

a tremendous amount of computer

hardware, software and social 

network alternatives are in 

the works.

 

It's still getting worse with the food.

 

http://www.motherjones.com/tom-philpott/2014/04/europe-just-banned-apple...

 

 

 

 

 

 

 

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