Economic Collapse

[basserdan]

8:30a International trade in goods (Advance)
Balance $-82.9B actual vs $-80.1B (rev) prior
Imports - M/M 3.1% actual vs 12.4% (rev) prior
Exports - M/M 2.8% actual vs 12.0% (rev) prior
Consensus Outlook
The US goods deficit (census basis) is expected to deepen to a very large $82.6 billion in August versus $81.2 billion in July (revised from $79.3 billion). Goods imports were down 7.4 percent year-over-year in August and were down 0.9 percent relative to February; goods exports have been falling more steeply, down 15.7 percent on the year and down 16.4 percent versus February.
Definition
The Census Bureau is now publishing an advance report on U.S. international trade in goods. The Bureau of Economic Analysis will incorporate these data into its estimates of exports and imports for the advance GDP estimates. This is expected to reduce the size of revisions to GDP growth in the second estimates.
Note that data in the advance goods report are accounted for on a census basis and can differ slightly from subsequent data in the international trade report where goods data are accounted for on a balance of payment basis to adjust for changes in ownership that can occur without goods passing into or out of the US.


8:30a Retail Inventories (Advance)
Month over Month 0.8% actual vs 1.2% prior
Definition
Retail inventories measure the monthly dollar value of inventories held by retailers. The advance report is released late in the month for the following month and is part of the Monthly Advance Economic Indicators report (which also includes data on wholesale inventories and international trade in goods). Final monthly data for retail inventories are released about two weeks later with the Business Sales and Inventories report.


8:30a Wholesale Inventories (Advance)
Month over Month 0.5% actual vs -0.1% (rev) prior
Consensus Outlook
Wholesale inventories are expected to fall 0.1 percent in August after falling 0.3 percent in July (revised from an initial minus 0.1 percent).
Definition
Wholesale inventories measure the monthly dollar value of inventories held by merchant wholesalers and are tracked to gauge inventory change in quarterly GDP. The advance report is released late in the month for the following month and is part of the Monthly Advance Economic Indicators report (which also includes data on retail inventories and international trade in goods). Final monthly data for wholesale inventories are released about two weeks later with the Wholesale Trade report which also includes initial monthly data on wholesale sales.