December trade balance data
– was a deficit of $65.3B
– Last December was $61.86B
– Exports +3.0% m/m and +4.5% y/y
– Imports +1.8% m/m and +4.7% y/y
The deficit was very close to expectations and trade increased, which is a positive sign for the economy overall. The big winner was a 7.3% rise in exports of capital goods, which is likely to be a bump due to aircraft or defense deliveries.
