Major Recession in 2013: US November Trade Deficit Soars To $48.7 Billion, Downward Q1 GDP Revisions Imminent!!! Wells Fargo And Morgan Stanley Layoff Thousands Ahead of Q4 Earning Reports. Inflation Running at 7% or Higher And The Market Is At Its Most Risk-On Level Since Just Before The Stock Market Crash That Began In 2007′s Third Quarter.

Friday, January 11, 2013
By Paul Martin

Investmentwatchblog.com
January 11th, 2013

US November Trade Deficit Soars To $48.7 Billion, Downward Q1 GDP Revisions Imminent

So much for the US trade renaissance. After posting a better than expected October trade deficit of ($42.1) billion, November saw the net importer that is the US revert to its old ways, with a massive deficit of some $48.7 billion – the worst number since April, far more than the $41.3 billion in expectations, which makes it the biggest miss to expectations since June 2010, driven by a $1.8 billion increase in exports to $182.6 billion, and a surge in imports which rose from $222.9 billion to $231.3 billion. Specifically “The October to November increase in imports of goods reflected increases in consumer goods ($4.6 billion); automotive vehicles, parts, and engines ($1.5 billion);industrial supplies and materials ($1.3 billion); foods, feeds, and beverages ($0.6 billion); capital goods ($0.4 billion); and other goods ($0.1 billion).” And with this stark reminder that the US has to import the bulk of its products, something which a weak USD does nothing to help, expect a bevy of lower Q4 GDP revisions, as this number may push Q4 GDP in the sub-1% category.

The Rest…HERE

Leave a Reply

Support Revolution Radio