by Mike ‘Mish’ Shedlock
The trade gap narrowed today and that is a good thing.
Last month the trade gap was -47.1 billion, revised to -47.0 billion. This month the trade gap narrowed to -40.4 billion a bit better than the Bloomberg Econoday consensus estimate of -41.4 billion.
However, consumer goods plunged by $5.1 billion and that has economists concerned about weakening sales across the board.
The analysts are not pleased with the report.