{"id":7130,"date":"2018-03-12T16:52:55","date_gmt":"2018-03-12T15:52:55","guid":{"rendered":"https:\/\/lazardfreresgestion-tribune.fr\/?p=7130"},"modified":"2019-04-19T09:08:47","modified_gmt":"2019-04-19T08:08:47","slug":"united-states-trade-deficit-hits-a-5-year-high","status":"publish","type":"post","link":"https:\/\/latribune.lazardfreresgestion.fr\/en\/united-states-trade-deficit-hits-a-5-year-high\/","title":{"rendered":"United States: trade deficit hits a 5-year high"},"content":{"rendered":"<h2><b>CHART OF THE WEEK<\/b><\/h2>\n<p>For the first time since 2012, November\u2019s US trade deficit has exceeded USD\u00a050\u00a0billion. It has risen sharply in the last two months, by almost USD\u00a06\u00a0billion. This deterioration is due to strong growth in goods imports, which have risen 3.8% in volume, while exports have only risen 2.1%. The services balance is stable.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-7131 aligncenter\" src=\"https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2018\/03\/Chartoftheweek-US-trade-deficit.png\" alt=\"\" width=\"1085\" height=\"419\" srcset=\"https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2018\/03\/Chartoftheweek-US-trade-deficit.png 1085w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2018\/03\/Chartoftheweek-US-trade-deficit-300x116.png 300w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2018\/03\/Chartoftheweek-US-trade-deficit-768x297.png 768w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2018\/03\/Chartoftheweek-US-trade-deficit-1024x395.png 1024w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2018\/03\/Chartoftheweek-US-trade-deficit-600x232.png 600w\" sizes=\"auto, (max-width: 1085px) 100vw, 1085px\" \/><\/p>\n<h2><b>OUR ANALYSIS<\/b><\/h2>\n<p>This pick-up in the pace of imports will drag down 2017 fourth-quarter growth. Based on end-November data, the impact could be up to 1 point in GDP growth, but within a context of particularly robust final demand.<\/p>\n<p>Aside from the last quarter of 2017, export growth has actually been slightly ahead of imports: 7.3% and 5.9% respectively year-on-year. These readings reflect healthy global economic conditions. However, if we were to see the end-of-year scenario continue, could the trade balance deteriorate further, becoming a long-lasting drag on growth? Although not impossible, this is unlikely. It is typical to see international trade boosting growth during the final phase of a cycle. Indeed, it is often at this point that growth in the rest of the world pushes US export levels up.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><em>The opinion expressed above is dated 11 January 2018 and is liable to change.<\/em><\/p>\n<p><span style=\"color: #333333; font-family: 'Arial',sans-serif; font-size: 8pt;\">This document is not pre-contractual or contractual in nature. It is provided for information purposes. The analyses and descriptions contained in this document shall not be interpreted as being advice or recommendations on the part of Lazard Fr\u00e8res Gestion SAS. This document does not constitute an offer or invitation to purchase or sell, nor an encouragement to invest. This document is the intellectual property of Lazard Fr\u00e8res Gestion SAS.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CHART OF THE WEEK For the first time since 2012, November\u2019s US trade deficit has exceeded USD\u00a050\u00a0billion. It has risen&hellip; <\/p>\n","protected":false},"author":101016,"featured_media":6902,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[148],"tags":[],"class_list":["post-7130","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chart-of-the-week"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>United States: trade deficit hits a 5-year high &#8211; Tribune Lazard Fr\u00e8res Gestion<\/title>\n<meta name=\"description\" content=\"United States: trade deficit hits a 5-year high Chart of the week Tribune Lazard Fr\u00e8res Gestion\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/latribune.lazardfreresgestion.fr\/en\/united-states-trade-deficit-hits-a-5-year-high\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"United States: trade deficit hits a 5-year high &#8211; 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