Trade and Inventories - Dec 2020

 



US Advance Goods Trade Balance (USD) Dec: -82.47B (est -84.0B; prev -84.8B)
Us Retail Inventories (M/M) Dec: 1.0% (est 0.6%; prev 0.7%)
US Wholesale Inventories (M/M) Dec P: 0.1% (est 0.5%; prev 0.0%)

Trade cont's to recover with exports up 4.4% m/m and imports up 1.4% m/m seasonally adjusted. All categories of exports were up with biggest jumps in ag (food, feeds, beverages) up 10.7% (and up 30.7% y/y) and autos up 6.8% m/m (3.2% y/y). Overall exports are down 2.6% y/y. Imports led by industrial supplies (+6.6%) and autos (+6.2%). Both up y/y. Ag and consumer goods both fell (around 3.2%). Overall imports are up 4.7% y/y.



Inventories up both retail and wholesale but more for the former.  Retail inv's remain down 5.8% y/y and wholesale -1.8%, so more restocking needed to get to year ago levels. 



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