October Exports Down 1% Imports Up 1.5%: Expect Trump to Howl

The balance of trade deficit increased sharply in October with exports down and imports up.

For October, the Census Bureau reported the trade deficit widened by 2.5 percentage points, with exports down 1.0% and imports up 1.5%.

From a year ago, exports are up 5.5% and imports are up 7.1%.

In US dollar terms, the October deficit is $68.3 billion, up from $64.1 billion in September, an increase of 6.5%.

These numbers will subtract a couple ticks from fourth-quarter GDP estimates. They will also have Trump howling about trade deficits.

Mike "Mish" Shedlock

Comments (13)
No. 1-13
JonSellers
JonSellers

I expect the President will have his best minds working on writing up legislation to remedy this issue and he will be personally finding reps and senators to sponsor this legislation in their respective houses. That's what good presidents do.

Hooligan
Hooligan

assuming C + G + i + (X-M) acually measures GDP, is it true that re-arranging that formula and holding Consumption and Investment constant, that G = (X-M) ? hence the external trade balance is equal to the fiscal deficit?

Hooligan
Hooligan

from here: https://www.usgovernmentspending.com/federal_deficit_chart.html the fiscal defciti is the devil's number of 666 a billion times. so.. where do "INVISIBLES" and capital retained overseas to evade US taxes go?

Bam_Man
Bam_Man

We are taking in more "stuff" than we are sending out to the rest of the world and "paying" for it with funny money that is backed by nothing and created out of thin air.

Bam_Man
Bam_Man

And we are the ones complaining about this?