19 January 2001, 16:13  U.S. November Trade Deficit Seen at $33 Bln: Bloomberg Survey

Washington, Jan. 19 (Bloomberg) -- The U.S. trade deficit probablystrayed little in November from the record set two months earlier, analystssaid. The trade gap narrowed to $33 billion for the month, compared with $33.2billion in October and September's record deficit of $33.7 billion, based onthe median of 40 forecasts in a Bloomberg News survey of investmentcompanies. The Commerce Department will release the statistics on goods andservices trade today at 8:30 a.m. Washington time. ``Imports of petroleum products probably retreated slightly from the recordhigh hit in October, while slowing domestic demand points to furtherweakness in capital goods and a pullback in consumer goods,'' said DavidGreenlaw, an economist at Morgan Stanley Dean Witter in New York. He noted in a forecast that reduced shipments of aircraft and motorvehicles probably caused exports to fall. Higher oil prices and a faster pace of consumer spending in the first half of2000 led to a surge in imports, helping widen the deficit. A dollar that roseas much as 13 percent last year against a mix of currencies madeAmerican goods more expensive abroad and imports cheaper. Through October, the trade deficit totaled $302.5 billion this year, up from$213.6 billion through October 1999, according to government statistics.That suggests the annual shortfall for 2000 will come in at a record $363billion, up from the previous record of $265 billion during 1999. Washington, Jan. 19 (Bloomberg) -- The U.S. trade deficit probablystrayed little in November from the record set two months earlier, analystssaid. The trade gap narrowed to $33 billion for the month, compared with $33.2billion in October and September's record deficit of $33.7 billion, based onthe median of 40 forecasts in a Bloomberg News survey of investmentcompanies. The Commerce Department will release the statistics on goods andservices trade today at 8:30 a.m. Washington time. ``Imports of petroleum products probably retreated slightly from the recordhigh hit in October, while slowing domestic demand points to furtherweakness in capital goods and a pullback in consumer goods,'' said DavidGreenlaw, an economist at Morgan Stanley Dean Witter in New York. He noted in a forecast that reduced shipments of aircraft and motorvehicles probably caused exports to fall. Higher oil prices and a faster pace of consumer spending in the first half of2000 led to a surge in imports, helping widen the deficit. A dollar that roseas much as 13 percent last year against a mix of currencies madeAmerican goods more expensive abroad and imports cheaper. Through October, the trade deficit totaled $302.5 billion this year, up from$213.6 billion through October 1999, according to government statistics.That suggests the annual shortfall for 2000 will come in at a record $363billion, up from the previous record of $265 billion during 1999.

© 1999-2022 Forex EuroClub
All rights reserved