Published: 2024-02-28T15:54:30.000Z
Preview: Due March 7 - U.S. January Trade Balance - Deficit to rise but no strong trend
Senior Economist , North America
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We expect January’s trade deficit to increase to $63.7bn from $62.2bn, which would be the widest deficit since October though trend will continue to lack a clear direction. We expect exports to rise by 0.7% and imports to rise by 1.0%.
We expect goods exports to rise by 0.5%, slightly stronger than in the advance data to correct an underperformance in December, while goods imports rise by 1.1%, consistent with the advance data. In real terms goods exports would be down by 0.3% correcting a strong rise in December while goods imports would be up by 0.3%, extending a moderate December gain.
We expect services to show a 1.0% rise in exports and a 0.5% rise in imports, maintaining a positive trend in the services balance.
