2017 Economic Calendar
POWERED BY  econoday logo
U.S. & Intl Recaps   |   Event Definitions   |   Today's Calendar   |   

International Trade in Goods  
Released On 8/28/2017 8:30:00 AM For Jul, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Balance$-63.9 B$-64.0 B$-64.1 B$-67.3 B to $-63.0 B$-65.1 B
Exports % change1.4 %1.5 %-1.3 %
Imports % change-0.4 %-0.2 %-0.3 %

Third-quarter GDP is off to a slow start, at least for international trade in goods where the July trade gap widened more than $1 billion to $65.1 billion. Exports fell 1.3 percent and were pulled down by a sharp fall in vehicles and also consumer goods which are two weak categories for the US. Helping to ease the effect of exports was a 0.3 percent decline in imports where foreign vehicles, which are usually in strong demand, fell 2.8 percent while industrial supplies were down 1.7 percent. July's trade report including services will be posted next week.

Consensus Outlook
The goods deficit in July is expected to narrow to a consensus $64.1 billion. For comparison, the goods deficit was $65.3 billion in June and averaged $67.0 billion per month in the second quarter. June's data included gains for exports of food and capital goods and declines for imports led by industrial supplies and consumer goods. Advance data for wholesale and retail inventories in June, which will also be inputs into third-quarter, will also be released with this report.

The Census Bureau is now publishing an advance report on U.S. international trade in goods. The Bureau of Economic Analysis will incorporate these data into its estimates of exports and imports for the advance GDP estimates. This is expected to reduce the size of revisions to GDP growth in the second estimates.

Note that data in the advance goods report are accounted for on a census basis and can differ slightly from subsequent data in the international trade report where goods data are accounted for on a balance of payment basis to adjust for changes in ownership that can occur without goods passing into or out of the US.  Why Investors Care

2017 Release Schedule
Released On: 1/262/283/284/275/256/287/278/289/2810/2611/2812/28
Release For: DecJanFebMarAprMayJunJulAugSepOctNov

powered by  [Econoday]