by Mike ‘Mish’ Shedlock
Economists were upbeat heading into today’s report on International Trade in Goods and Services by the BEA.
Exports did rise by $1.8 billion, but imports rose by $3 billion widening the trade gap.
Year-to-date, the goods and services deficit increased $10.8 billion, or 13.1 percent, from the same period in 2015. Exports decreased $20.5 billion or 5.5 percent. Imports decreased $9.7 billion or 2.1 percent.
Amusingly, Bloomberg Econoday finds strength in these numbers. Let’s take a look.