UPDATE: The trade gap came in wider than expected at $47.8 billion.
This is a big jump from the $43.3 billion gap from October.
Analysts had expected a $45 billion gap.
Here’s a chart from the report.
Also from the report, some commentary about trade with some of our major partners.
- The goods deficit with Canada increased from $2.2 billion in October to $3.0 billion in November. Exports decreased $1.3 billion (primarily automobiles, parts, and accessories and other household goods) to $23.3 billion, while imports decreased $0.5 billion (primarily nonmonetary gold, civilian aircraft, and other precious metals) to $26.3 billion.
- The goods deficit with China decreased from $28.1 billion in October to $26.9 billion in November. Exports increased $0.2 billion (primarily civilian aircraft, engines, equipment, and parts; corn; and passenger cars) to $9.9 billion, while imports decreased $1.0 billion (primarily household goods and apparel) to $36.8 billion.
- The goods deficit with European Union increased from $8.0 billion in October to $9.7 billion in November. Exports decreased $1.4 billion (primarily fuel oil, drilling and oilfield equipment, and nonmonetary gold) to $22.0 billion, while imports increased $0.4 billion (primarily petroleum products, passenger cars, and household goods) to $31.7 billion.
ORIGINAL POST: First big datapoint of the day: At 8:30 AM the November trade deficit comes out.
Analysts expect a gap of $45 billion. That’ would be ups lightly form the $43.5 billion in October.
Technically, the trade gap is subtracted from GDP, but actually the higher the number the better, since that means more trade and that means more economic activity.
We’ll have the number here LIVE when it comes out.