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| An Initial Look at January Trade Data - Mar. 9, 2006 |
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Summary
Earlier this morning, the Commerce Department reported a January trade deficit of $68.5 billion, a monthly record. This was approximately $3.4 billion higher than December's revised deficit of $65.1 billion, which was originally reported at $65.7 billion.
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* Based on Commerce Department figures released this morning, the US trade deficit (goods and services) came in at $68.5 billion in January, an increase of $3.4 billion from December's $65.1 billion. (Originally, the December trade deficit was reported at $65.7 billion.)
* For all of 2005, the nation's trade deficit totaled a revised $723.6 billion. This was $106.0 billion or 17.2% above 2004's red ink of $617.6 billion.
Today's release contained significant revisions to prior data, which I will discuss when I soon publish a more detailed examination of today's report.
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