2017 Economic Calendar
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International Trade in Goods  
Released On 9/28/2017 8:30:00 AM For Aug, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Balance$-65.1 B$-63.9 B$-65.7 B$-67.9 B to $-64.0 B$-62.9 B
Exports % change-1.3 %-0.3 %0.2 %
Imports % change-0.3 %-0.2 %-0.3 %

The nation's trade gap in goods, at $62.9 billion vs July's $63.9 billion, narrowed sharply in August which will be a positive for third quarter GDP. Exports, boosted by a jump in consumer goods and also capital goods, rose 0.2 percent in the month to nearly reverse July's 0.3 percent decline. Imports fell 0.3 percent in August with down drafts in industrial supplies, capital goods, and also food products. This report includes preliminary data on August inventories at the wholesale and retail levels which surged, up 1.0 percent and 0.7 percent respectively, and will also be positives for third-quarter GDP.

Consensus Outlook
The goods deficit in August is expected to widen to a consensus $65.7 vs $63.9 billion in July ($65.1 billion initially reported). Exports of consumer goods and autos weakened in July while imports also dipped on declines for autos and industrial supplies as well as petroleum where an August gain is likely given the month's hurricane-related increase in oil prices. Advance data for both wholesale inventories and retail inventories in July, which are also GDP inputs and which have been mixed, 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

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