Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
mishtalk.com / Mike “Mish” Shedlock / April 27, 2016
Imports and Exports both fell in today’s International Trade Report.
Imports declined more than exports, signaling weakening consumer demand, but the overall shrinking of the trade deficit gave a small lift to GDP estimates for the first quarter.
Highlights
Trade activity slowed sharply in March though the deficit narrowed, down a sharp 9.5 percent to $56.9 billion vs February’s $62.9 billion. Exports fell 1.7 percent to $116.7 billion with consumer goods showing a steep decline together with wide declines for industrial supplies, autos, and foods. A positive, however, is a 1.5 percent uptick in capital goods exports, one that follows a smaller gain in February and hints at resiliency for global business investment. But the import side of the report points at declining domestic demand with consumer goods down a very steep 9.1 percent. Capital goods are also weak, down 3.6 percent. Cross-border activity has been a major negative for the global economy and March’s goods data point to continuing trouble though they will, however, give a lift to first-quarter GDP. This report represents the goods portion of the monthly international trade report which will be posted next Wednesday.
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Thanks to BrotherJohnF