US Trade Deficit Surges To $46.3 Billion

USA Soccer

Headline: $46.3 Billion

Expectations: $41 billion deficit

Details: The market is moving lower on the news, as this is much bigger than expected.

The number has the potential to cause downward revisions to Q1 2011 GDP projections.

Oil prices are being partially blamed for the larger than expected deficit. Services imports and exports remained unchanged.

From the report:

The December to January increase in imports of goods reflected increases in industrial supplies and materials ($4.4 billion); automotive vehicles, parts, and engines ($2.7 billion); capital goods ($2.1 billion); consumer goods ($0.9 billion); and foods, feeds, and beverages ($0.5 billion). A decrease occurred in other goods ($0.6 billion).

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