U.S. trade in goods deficit widens 2.6% in January

Date:

Share post:



The numbers: The U.S. trade deficit in goods widened 2.6% to $90.2 billion in January, according to the Commerce Department’s advanced estimate released Wednesday.

Economists polled by Econoday were looking for the deficit to narrow to a $88.1 billion deficit.

Key details: Exports of goods rose $400 million to $170.4 billion in January. Imports rose $2.7 billion to $260.6 billion.

The report also showed a 0.1% decline in wholesale inventories in January. And advanced retail inventories were up 0.5%. Excluding autos, retail inventories were up 0.3%.

Big picture: Exports had jumped in December and economists were expecting some pullback this month. The trade deficit narrowed sharply in 2023, helping to boost growth. Economists are watching to see if geopolitical tensions will impact trade flows in coming months.

Market reaction: Stocks
DJIA

SPX
were set to open lower on Wednesday. The yield on the 10-year Treasury note
BX:TMUBMUSD10Y
slipped to 4.29%.



Source link

Alexandra Williams
Alexandra Williams
Alexandra Williams is a writer and editor. Angeles. She writes about politics, art, and culture for LinkDaddy News.

Recent posts

Related articles

Novavax failed to capitalize on fears surrounding mRNA vaccines, activist investor says

In a letter seen by MarketWatch, the activist fund blamed the sharp drop in Novavax’s sales on...

Fresh uncertainty around Fed rate cuts exposes the stock market’s winners and losers

Higher U.S. inflation is dashing investors’ hopes for multiple Federal Reserve rate cuts this year, while opening...

Shohei Ohtani not involved in gambling, prosecutors say, as they charge translator with stealing $16 million

Baseball star Shohei Ohtani was not involved in gambling and had no knowledge of payments being made...

Stocks, bonds slump as traders shift Fed rate-cut expectations to September

Markets were rattled Wednesday by a stronger-than-expected inflation report, with stocks and bonds selling off as investors...

Philips shares climb after finalizing pact with U.S. over device sales

Philips reiterated its financial outlook on Wednesday after finalizing a consent degree with the U.S. Department of...

GOP says Biden administration is using crypto as a ‘scapegoat’ for foreign-policy failures

The digital-asset industry and its allies in Congress on Tuesday criticized the Biden administration for blaming cryptocurrency...

States sue over Biden’s student-loan repayment program using arguments that succeeded before

Missouri and six other states are asking a court to block the Biden administration’s revamped student-loan repayment...

Congressional push to take TikTok off your phone may ‘be lost in the fog of presidential politics,’ Pence says

Senate Minority Leader Mitch McConnell and former Vice President Mike Pence are throwing their support behind a...