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Q3 GDP Alert: US Trade Deficit Worse Than Expected As Exports, Goods Imports Drop
This could be a problem for the escape velocity believers: the US trade balance printed its biggest deficit since April at -$43.0bn (missing expectations of -$40.2bn) bn, and jumping 7.6% from $40 billion in August. This reflected a decrease in exports (but, but decoupling!?) though imports of goods also slid, suggesting not only is there slack in foreign demand for US goods and services, but the US manufacturing sector is also undergoing to a contractionary realignment. Someone please notify the (seasonally-adjusted) ISM that Q3 GDP estimates areabout to tumble on this latest non-confirmation of hopium.
Some of the highlights:
- *U.S. TRADE DEFICIT WITH CHINA HIGHEST EVER ON RECORD IMPORTS
- *U.S. IMPORTS LITTLE CHANGED AT $238.6 BLN ON CHEAPER OIL
- *U.S. EXPORTS DROP 1.5% TO $195.6 BLN ON OIL, CAPITAL GOODS
- *U.S. IMPORTS OF PETROLEUM WERE LOWEST SINCE NOVEMBER 2009
And the details:
The U.S. monthly international trade deficit increased in September 2014 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $40.0 billion in August (revised) to $43.0 billion in September, mainly reflecting a decrease in exports. The previously published August deficit was $40.1 billion. The goods deficit increased $2.4 billion from August to $62.7 billion in September; the services surplus decreased $0.6 billion from August to $19.6 billion in September.
Exports
Exports of goods and services decreased $3.0 billion in September to $195.6 billion, mostly reflecting a decrease in exports of goods. Exports of services also decreased.
- The decrease in exports of goods was more than accounted for by decreases in industrial supplies and materials, in capital goods, and in consumer goods. An increase in foods, feeds, and beverages was partly offsetting.
- The decrease in exports of services mostly reflected decreases in travel (for all purposes including education) and in transport, which includes freight and port services and passenger fares. Changes in the other categories of services exports were relatively small and nearly offsetting.
Imports
Imports of goods and services increased $0.1 billion in September to $238.6 billion, reflecting an increase in imports of services. Imports of goods decreased.
- The increase in imports of services mostly reflected an increase in transport. Changes in the other categories of services imports were relatively small.
- The decrease in imports of goods was more than accounted for by decreases in industrial supplies and materials, in capital goods, and in automotive vehicles, parts, and engines. An increase in consumer goods was partly offsetting.
Goods by geographic area (seasonally adjusted, Census basis)
- The goods deficit with China increased from $28.5 billion in August to $31.2 billion in September. Exports decreased $0.1 billion to $9.8 billion, and imports increased $2.6 billion to $41.0 billion.
- The goods deficit with Canada increased from $2.7 billion in August to $4.0 billion in September. Exports decreased $0.6 billion to $26.3 billion, and imports increased $0.7 billion to $30.3 billion.
- The goods deficit with Germany decreased from $7.2 billion in August to $6.2 billion in September. Exports increased $0.1 billion to $4.2 billion, and imports decreased $0.8 billion to $10.4 billion.
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Oooops....
I actually totally expected it......I mean.....come on!
Let's see. 5,000 citizens renounced their citizenship (or something like that) while some 3,000,000 have tsunami'd across our borders, which looks like intend to keep, but no accurate records, so maybe more?
Now that's a trade deficit.
A trade deficit in Democratic voting Free Shit Army regulars.
Booyah
Don't worry. As soon as we learn how to export cheeseburgers, this will turn around.
No, It's when Americans are the illegals getting into other countries.
Do they not count the bombs on ISIS as exports. That should be counted. /s
why the slash /s? you dhould be in giverment........
USDs not counted as exports?
All bullish until WWIII
This sucker is going down - George Bush jr
Bush printed his billions......Obama printed his trillions.
Oh, china just love lower oil price and higher value of $ isn't?
If China loves it, then US Totally ADORES it!
#1 import from China - cyber attacks. There's a 2-for-1 deal at your local retailer.
Why should I buy them from China when the NSA gives them as a free service for US citizens?
Alibaba baby.
All my money’s invested with stawks like Herbalife so I feel pretty solid.
Can't wait for CNBC's bullish spin on such good numbers.
And over to you, Steve.
Thanks, whateveryournameis: With such as strong domestic economy, as evidenced by all the shit we're buying, we're gonna lead the world out of the um uh we're uh, leading the world in um ah ahhhh spectacular growth. See see see, and everybody wants to come here, even the Democratic Free Shit Army voters form uh mmmmm Everything is beautiful and dontchu forget it... Buy the fucking dip, shit
Just another rationalization that helps obscure the truth.
No more inflation to export? Dang it.
We've switched to importing deflation from Japan. Or so they say.
It's the weather...
http://olduvai.ca
oh, and to any dipshit who tells you the deficits are falling, this just in:
U.S. Treasury expects to borrow $232 bln in fourth quarter - Reuters
http://www.reuters.com/article/2014/11/03/usa-debt-borrowing-idUSL1N0ST1ZP20141103
No worries, the new and improved GDP calculation will include hookers and blow in it.
But with bankers killing off the hooker population, that just leaves us with blow.
USA are pigs who only know how to borrow (steal) from other countries...
There are a few dozen countries Americans can't find on a map that would agree with you.
only 232B, geez, think what 100M responsible citizens could do with that. just un-fucking-believable! 2.57777 billion per day backwards. and who is buying these treasuries in a surplus as rates keep dripping down? belgium again? make no fucking sense what so ever. world gone wacked...
Here we go again... Stock prices near an all time high and the pessimistic outlooks are everywhere. Have we seen this before people? Just BTFATH allready. This is just smoke and mirrors to get incentives to start moar QE from ECB, FED, BOJ. Everything is beyond broken anyway, no point in fighting TPTB.
Japan set export a bit of deflation to help things along.
Who cares? The only question in Washington that matters is whether anything makes President Goebbels look "good" or look "bad".
www.traderzoo.mobi
Obama got his second term. He don't care about Jack S. The lame duck goes golfing.
As I have been saying:
World trade is dying.
To be blamed:
-Quantitative Easing
-Obama disallowing interventions, trying to dissassemble Pentagon
I seriously don't get your second point. Obama disallowing interventions is somehow destroying world trade?
Is that good sarcasm or something?
Absolutely not.
That is pure reality
Pentagon = World Police
If Police moves out of the neighborhood, then gangs move in and world trade dies.
Bank lobby stuffed the world with dollars and tried to control Pentagon.
Hmmmm.........no. Guns control money, not vice versa. Guns always win.
Pentagon is cleaning up bank lobby now. There is revenge going on.
Pentagon is a force for good. We got to get on our knees thank God for Pentagon.
I once took you seriously, ekm1. I can no longer do so.
The Pentagon a force for good. Yes - something in the shape of a pentagram, a force for good. Get on your knees and pray to your God in thanks for the Pentagon. While you're down there, search the floor for your sanity. I fear you've lost it somewhere.
I urge anybody NOT to take me seriously
Looks like somepne just jumped the shark.
lulz
Soon they can't control this...like a driver swerving down the road past the point of control...each correction will be an over correction...
IMO, that too is illusion and what they want you to believe. IMO, they intend to crash the markets, but want it to look as if it was not within their power to control ... which of course it is since they absolute control of price, media and government.
probably due to our strong dollar policy. /s
Kong's take on Japan's "preemptive strike" with respect to the addtion of further QE.
Apparently in the good ol days Japan used to intervene directly in forex markets, and nearly every single time - markets would just spit it back in their faces, reversing the move over the next 24 hours.
Nikkei down -600 points this morning so perhaps some merit to the argument. This time perhaps the same?
http://forexkong.com/2014/11/04/japanese-tsunami-big-waves-on-the-horizon/
This gives more credence to the rumor of the so called global plan for "the great work" (google it) which creates an interdependent global elitist dominated society.
Don't listen to the words, just watch the actions. Under this rumored scenario, there is no intention of returning value adding jobs to the US. So, any words to this effect by the government or the central banks would simply be lies.
- Asia is the designated center for manufacturing
- The US is the center for software and higher education
- Europe is the center for banking
- I assume that Africa and South America are to be exploited for the resources.
- The new global religion is probably to be centered in the middle east
- My assumption is that food production is globally distributed as it is now, but with the planned for fewer people on the planet, the US can be converted to more of a natural park for the elitists and people can be crammed into cities.
I am not sure how Russia is supposed to fit in.
Add hookers, coke, and rehashed recycled welfare money to GDP and recalculate.
Now for the next exciting installment of "PIMP MY ECONOMY!"
Turn your hooptie economy into a dope-ass investor's magnet.
Once again, superstar and currency enthusiast Krazy Kuroda and printing specialist Yelling Yellin get up to speed and take aim on the biggest clunker economies in the system. Taking Ponzi scammin' to the next level, together Krazy Kuroda, Yelling Yellin, and da rest of da crew at Bankin' Central create unheard of pimped out e-CON-omic masterpieces.
Now chart the deficit against the GDP, the higher the deficit, the higher GDP.
Do you realize that a R tax cut at this time would force a downgrade in US Treasury debt, and this would force interest rates to go up. The Fed Reserve would have no power to stop it. And gold and silver would explode to the upside. Maybe this is the plan to save the Fed Reserve, blame Congress? The resulting inflation would drive unemployment and we would start having riots in the street. Yes, a R victory today is going to lead to interesting times ahead.
Decentralize. Independence. Those are the words that freak out TPTB.
Markets? Fuck that shit.
Somebody please forward these reports to $1.20-handle extraordinaire, Professor Marc-to-Market...