{"id":46497,"date":"2019-05-31T06:39:41","date_gmt":"2019-05-31T11:39:41","guid":{"rendered":"https:\/\/olduvai.ca\/?p=46497"},"modified":"2019-05-31T06:39:44","modified_gmt":"2019-05-31T11:39:44","slug":"not-winning-collapse-in-global-trade-escalates-imports-2-7-exports-4-0","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=46497","title":{"rendered":"Not Winning: Collapse in Global Trade Escalates, Imports -2.7%, Exports -4.0%"},"content":{"rendered":"\n

Not Winning: Collapse in Global Trade Escalates, Imports -2.7%, Exports -4.0%<\/a><\/h3>\n\n\n\n
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Those who claim that Trump has already won or is sure to win the trade war need to ponder actual trade results.<\/p>\n\n\n\n

Exports rose 1.0% in March with imports up a reported 0.9%. That progress was taken away and then some in April.<\/p>\n\n\n\n

The Census Bureau Advance Trade<\/a> report shows the balance of trade widened by 0.3%. The details, as noted by Econoday<\/a> are downright ugly.<\/p>\n\n\n\n

Sharp declines in exports are unwelcome headlines in April’s advance data on goods trade. The monthly deficit remains very deep, at $72.1 billion with exports falling 4.2 percent year-on-year and with imports also down, 2.7 percent lower. The deficit compares unfavorably with a $71.3 billion monthly average in the first quarter that marks a weak opening for net exports in the second quarter.<\/p>

Capital goods are the US’s largest exports and these fell 6.5 percent in the month to $44.3 billion. Compared with April last year, capital goods exports are down 3.7 percent. Auto exports are also down, 7.2 percent lower to $12.9 billion and 6.7 percent below last year. The only export component showing a gain is food & feeds which rose 0.5 percent to $11.2 billion but which is nevertheless 6.2 percent below April last year.<\/p>

The decline on the import side is also led by a 3.5 percent decline for capital goods ($55.4 billion) but also includes 3.1 percent and 2.3 percent monthly declines in autos ($30.9 billion) and consumer goods ($54.2 billion) as well as a 1.1 percent drop in foods ($12.8 billion).<\/p>

Global trade figures have been contracting and the latest US numbers are part of that picture. Today’s report gets second-quarter GDP, already held down by contractions for April retail sales and industrial production, off to a slow start.<\/p>

Note that country balances aren’t posted with the advance report but will follow with the subsequent international trade report that will also include data on services.<\/p><\/blockquote>\n\n\n\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

Not Winning: Collapse in Global Trade Escalates, Imports -2.7%, Exports -4.0% Those who claim that Trump has already won or is sure to win the trade war need to ponder actual trade results. Exports rose 1.0% in March with imports up a reported 0.9%. That progress was taken away and then some in April. The Census […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[13390,805,3222],"class_list":["post-46497","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-mishtalk","tag-trade","tag-trade-war"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/46497","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=46497"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/46497\/revisions"}],"predecessor-version":[{"id":46498,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/46497\/revisions\/46498"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}