America’s Trade Deficit Increased During November

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The nation’s trade deficit increased in November to $48.7 billion, surpassing economists’ expectations for decrease to $41.1 billion. 

The Commerce Department’s Census Bureau released brutally disappointing news on Friday that the nation’s trade deficit increased in November to $48.7 billion.  Economists had been expecting to see the trade deficit decrease to grades1 America’s Trade Deficit Increased During November$41.1 billion.  As a result, the November trade deficit turned out to be a whopping $7.5 billion worse than previously assumed.

Thursday’s report from China’s Customs Administration, revealing that the nation’s trade surplus increased by 48 percent in 2012 on an annual basis, was based on a 7.9 percent increase in the nation’s exports.  China’s trade surplus raised hopes that the data would reveal increasing demand for American exports as a result of improvement in the global economy.  Unfortunately, this was not the case.  The Commerce Department had more disappointing news for us.  A Short Lesson in Bad Decision Making

From the report:

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total November exports of $182.6

billion and imports of $231.3 billion resulted in a goods and services deficit of  $48.7 billion, up from $42.1 billion in October, revised.  November exports were $1.7 billion more than October exports of $180.8 billion.  November imports were $8.4 billion more than October imports of $222.9 billion.

In November, the goods deficit increased $6.6 billion from October to $65.7 billion, and the services surplus was virtually unchanged from October at $17.0 billion.  Exports of goods increased $1.6 billion to $129.3 billion, and imports of goods increased $8.2 billion to $195.0 billion.  Exports of services increased $0.1 billion to $53.2 billion, and imports of services increased $0.2 billion to $36.3 billion.

The goods and services deficit decreased $0.1 billion from November 2011 to November 2012.  Exports were up $5.8 billion, or 3.3 percent, and imports were up $5.7 billion, or 2.5 percent.

Trade in advanced technology products resulted in a deficit of $11.8 billion.  Advanced technology products exports were $26.0 billion in November and imports were $37.8 billion.  US November Sales Increased Across the Board

The major ETFs expected to respond to the Commerce Department’s report on International Trade for November are:

Industiral Select Sector SPDR Fund ETF (NYSEARCA:XLI)  -0.36%

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