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March Trade Deficit Worse Than Expected; Decline From February Due To Winter Olympic Royalties End
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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Like it matters. Que up some more POMO for the MOMO.
But but but.. CNBS says it was a good thing.
http://www.cnbc.com/id/101645517
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
Olympic games weather?
Aaaaaaaarrrraaggh!
fuck fuck fuck fuck fuck fuck fuckf cukf cufkc fukf cufk gurggle choke choke
If NYC had nuclear terror attacks, CNBC would be reporting it was better than expected.
Another valid reason to BTFATH.....1900 or Bust
If you think it's bad, it means you're a racist...
From the DXY action overnight someone got this pre release.
I can't keep up with all of this propserity we are having
Wait a minute, CNBC says ZH is wrong...
http://www.cnbc.com/id/101645517
Damnit, headbanger beat me to it.
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
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.
Well, Auntie Gerttie is a skin flint....
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...