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| January Trade Data (Initial Comments) - Mar. 11, 2005 |
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Summary
Earlier this morning, the Commerce Department reported that the nation's trade deficit in January was $58.27 billion, about $2.5 billion higher than December's revised red ink of $55.74 billion.
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Shortly, I will publish a more comprehensive analysis of today's trade figures. In the meantime, based on the Commerce Department's report of earlier this morning, the US trade deficit (goods and services) came in at $58.270 billion in January, compared with a revised December deficit of $55.744 billion. (The December figure was originally reported at a negative $56.403 billion.)
Meanwhile, incorporating the revisions contained in today's release, the 2004 trade deficit totaled almost $617.1 billion. This is about $650 million lower than the numbers released last month.
Based on current data, the country's trade deficit in 2004 was $120.6 billion or 24.3% above the red ink generated during 2003.
Much more to come.
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