Trade Deficit Largest since 2008.

International Trade  (March 2015)

– Trade Deficit $-51.4 billion. Previous was $35.9 billion.

This is the largest Trade Deficit since 2008. The 1stQ2015 GDP estimate of -0.2% had only 2 months of Import/Export data with March estimated. This increase in Trade Deficit could mean that we had GDP loss in the 1stQ2015.  The increase in the Trade Deficit may have been caused, in part, by resolution of the West Coast port strike which was resolved in March.  Since we import more than we export the dollar amount of deferred imports was greater than the dollar amount of deferred exports.

Redbook Chain Store Sales (week ended 5/2/2015)

– Store Sales year/year +1.6%. Previous was +1.4%.

PMI Services Index (April 2015)

– Index Level   57.4. Previous was 59.2.

ISM Non-Manufacturing Index  (April 2015)

– Composite Index –   57.8. Previous was 56.5.

Services up, manufacturing down. Not exactly a new story.