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ORIGINAL POST: Big datapoint of the day: The May Trade Balance.Analysts expect to see a deficit of $48.6 billion vs. $50.1 billion in the month before.
Technically, the larger the deficit, the worse it is for GDP, since the trade deficit is subtracted from GDP.
In reality, however, we want to see more and more trade and bigger trade deficits are associated with higher GDPs.
Well have the number here LIVE at 8:30 AM ET.
Snooze. The number is $48.7 billion, which is basically in line with expectations. It’s also narrowed a little bit from an upwardly revised 50.6 billion last month.