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Mortgage News Daily

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ECON: Trade Gap Narrows More Than Expected
Posted to: Micro News
Tuesday, December 18, 2012 8:51 AM

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- Trade Deficit $107.51 bln vs 103.4 bln consensus
- Smallest Since Q4 2010
- 2.7 pct of GDP, smallest since Q2 09
- Despite some morning volatility, markets not trading this data much. (Narrower trade gap would tend to suggest the opposite movements from what we've seen anyway).

The U.S. current-account deficit—the combined balances on trade in goods and services, income, and net unilateral current transfers—decreased to $107.5 billion (preliminary) in the third quarter from $118.1 billion (revised) in the second quarter. The decrease in the current- account deficit was more than accounted for by a decrease in the deficit on goods. Changes in the other balances were relatively small.




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