Archive Page 2

July 2017 Trade Gap is $43.7 Billion

The U.S. monthly international trade deficit increased in July 2017 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $43.5 billion in June (revised) to $43.7 billion in July, as exports decreased more than imports. The previously published June deficit was $43.6 billion. The goods deficit decreased less than $0.1 billion in July to $65.3 billion. The services surplus decreased $0.2 billion in July to $21.6 billion.

trade-july-2017

Exports
Exports of goods and services decreased $0.6 billion, or 0.3 percent, in July to $194.4 billion. Exports of goods decreased $0.4 billion and exports of services decreased $0.1 billion.

  • The decrease in exports of goods mostly reflected decreases in consumer goods ($0.7 billion) and in automotive vehicles, parts, and engines ($0.6 billion). An increase in capital goods ($0.9 billion) partly offset the decreases.
  • The decrease in exports of services mostly reflected a decrease in travel (for all purposes including education) ($0.3 billion).

Imports
Imports of goods and services decreased $0.4 billion, or 0.2 percent, in July to $238.1 billion. Imports of goods decreased $0.5 billion and imports of services increased less than $0.1 billion.

  • The decrease in imports of goods mostly reflected decreases in automotive vehicles, parts, and engines ($0.8 billion) and in industrial supplies and materials ($0.7 billion). An increase in capital goods ($1.3 billion) partly offset the decreases.
  • Imports of services were nearly unchanged, reflecting small and offsetting changes across all categories.

For more information, read the full report.

Gross Domestic Product for Guam Increases in 2016

The Bureau of Economic Analysis released estimates of gross domestic product for Guam for 2016, in addition to estimates of GDP by industry and compensation by industry for 2015.

These estimates were developed under the Statistical Improvement Program funded by the Office of Insular Affairs of the U.S. Department of the Interior.

Revised estimates of GDP for 2013 to 2015, as well as revised estimates of GDP by industry and compensation by industry for 2013 and 2014, also are available.

The estimates of GDP for Guam show that real GDP (adjusted to remove price changes) increased 0.4 percent in 2016, after increasing 0.5 percent in 2015. For comparison, real GDP  for the United States (excluding the territories) increased 1.5 percent in 2016, after increasing 2.9 percent in 2015.

Guam GDP Sept 4

The growth in the Guam economy reflected increases in exports of services and consumer spending. These increases were partly offset by decreases in investment spending across the government and private sectors.

Exports of services, which consists primarily of spending by tourists, grew for a third consecutive year. The increase reflected growth in visitor arrivals, particularly from Korea.

Consumer spending continued to increase, reflecting growth in retail trade activity.

Business spending on construction and equipment decreased following the completion of major projects during 2015, including the construction of Guam’s first private hospital and a new luxury hotel in Tumon Bay.

Government investment spending declined, reflecting the completion of the Guam Port Authority’s Port Improvement Program in 2015 and a decrease in Defense construction contracts.

For more information,  read the full report.

Personal Income Increases in July

Personal income increased 0.4% in July after showing no change Personal Income Chart Aug 31
in June. Wages and salaries, the largest component of personal income, increased 0.5 percent in July, the same increase as in June.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.3 percent in July after remaining unchanged in June.
Real DPI, income adjusted for taxes and inflation, increased 0.2 percent in July after showing no change in June.

Real consumer spending (PCE), spending adjusted for price changes, increased 0.2 percent in July, the same increase as in June. Spending on durable goods increased 0.8 percent in July,
the same increase as in June.

PCE prices increased 0.1 percent in July after showing no change in June. Excluding food and energy, PCE prices increased 0.1 percent in July, the same increase as in June.

Personal saving rate
Personal saving as a percent of DPI was 3.5 percent in July and
3.6 percent in June.

Real Disposable Personal Income Aug31

For more information, read the full report.


Enter your email address to follow this blog and receive notifications of new posts by email.

Archives