U.S. trade deficit in goods falls 5.7% in October to a 17-month low

Market Watch ^ | 26 Nov, 2019 | Jeffry Bartash

[BeauBo]

The trade gap in goods fell to $66.5 billion in October from a revised $70.5 billion in the prior month, according to advanced figures released by the government...

The advanced report also revealed an 0.2% increase in wholesale inventories in October and a 0.3% gain in retail inventories.

All three advanced figures suggest gross domestic product could be higher in the fourth quarter than Wall Street has been forecasting...

What happened: Imports of foreign-made goods declined by $5 billion to $201.8 billion in October, likely reflecting a recent pattern of up-and-down figures depending on the timing of new U.S. tariffs on China...

Exports of U.S. goods slipped by a smaller $900 million to $135.3 billion.

[BeauBo]

The final report for the month (which will include services as well as goods, and show a smaller total deficit) will probably be out in another week. It will likely show a monthly deficit below $50 billion.

The drop in exports was mostly agricultural products and cars (40 day strike at GM).

The drop in imports was more than five times bigger than the drop in exports. It seems that China may have taken another big hit, with other countries expanding their exports into the USA, even as the total volume of imports declined - so China was losing volume two ways.

[BobL]

It also helps to not be importing some $20B worth of petroleum products (mainly crude oil) each month, due to fracking.

[Ken H]

U.S. stocks end at all-time highs, major indexes clinch 10th record close of November

Nov 26, 2019 4:47 p.m. ET

https://www.marketwatch.com/story/dow-futures-flat-after-another-round-of-stock-market-records-2019-11-26

[Ken H]

Check out the picture at the link in post #3 - very unwoke. It’s a Getty image, so I can’t post it here.

[DoughtyOne]

An interesting thought.

As a people we are experiencing a thriving economy. 350,000 Blacks have been lifted out of poverty.

Use of government food programs have dropped of precipitously.

What this means, is that people have more expendable income right now.

I’m not surprised we have a large trade deficit this year. People are spending money.

This should be an amazing Christmas shopping year.

[thinden]

Heads up

Thanx for info, beaubo

[spokeshave]

From the article linked:

During an Oval Office event Tuesday, U.S. President Donald Trump said that Washington was in the “final throes” in its efforts to reach a trade deal with China, but also underscored that Americans stand with pro-democracy protesters in Hong Kong.

Ha...does "final throes" = death rattle......?

[BunnySlippers]

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