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US: Goods and services deficit narrows to $66.6 billion in December vs. $65.7 billion exoectedNEWS |
2/5/2021 1:50:15 PM GMT | By Eren Sengezer
US Goods and Services Trade Balance came in slightly worse than expected.
US Dollar Index continues to push lower toward 91.00.
The goods and services deficit of the United States declined by $2.4 billion to $66.6 billion in December, the data published jointly by the US Census Bureau and the US Bureau of Economic Analysis showed on Friday. This reading came in slightly worse than the market expectation for a deficit of $65.7 billion. December exports were $190.0 billion, $6.2 billion more than November exports, the press release further read. December imports were $256.6 billion, $3.8 billion more than November imports.
BEA Bureau of Economic Analysis : U S International Trade in Goods and Services, December 2020 marketscreener.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketscreener.com Daily Mail and Mail on Sunday newspapers.
Analyst Opinion of Trade Data
From the BEA:
Exports and imports in December 2020 reflect both the ongoing impact of the COVID-19 pandemic and the continued economic recovery from the sharp declines earlier in the year. The full economic effects of the pandemic cannot be quantified in the trade statistics because the impacts are generally embedded in source data and cannot be separately identified. The Census Bureau and the Bureau of Economic Analysis continue to monitor data quality and have determined estimates in this release meet publication standards.
The data in this series wobbles and the 3-month rolling averages are the best way to look at this series. The 3-month average rate of growth improved for imports and exports - but exports remain in contraction.