August Accelerates Automotive Exports

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Balance of Payments, August 2013

By: John Sperry

In August, the Nation’s international trade deficit increased to $38.8 billion from $38.6 billion in July (revised), as imports increased and exports declined.  Imports increased slightly to $228.0 billion, primarily due to increases in capital goods ($1.0 billion).  Exports decreased $0.1 billion to $189.2 billion, driven by decreases in industrial supplies and materials ($1.3 billion) and foods, feeds, and beverages ($0.4 billion).  A $0.7 billion increase in automotive vehicles, parts, and engines exports helped set a record high for automotive exports ($13.1 billion).  August also topped highest on record exports ($56.8 billion) and imports ($37.4 billion) of services set last month.

Changes to the Release Schedule

Earlier this week the U.S. Census Bureau announced revisions to its release calendar for the 2013 economic indicators that have been delayed because of the recent lapse in federal funding.  This will delay our September 2013 data release originally scheduled for Tuesday, November 5th to Thursday, November 14th.  The data will still release at 8:30 A.M.  Furthermore, this will delay our September Preliminary Steel report from October 24th to October 31st.  We will return to our previously announced schedule with the October release scheduled for December 4th.  For a full listing of indicator schedule changes visit our website.

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