Tuesday, March 09, 2010
2010 - a trade oddity
Posted by David Smith at 04:00 PM
Category: Thoughts and responses

A widening of the trade deficit in goods and services to a 17-month high of 3.8 billion in January and a sudden drop in exports looks alarming. More likely, it is just a bit odd. These numbers are subject to almost immediate revision - the December deficit was revised down from 3.3 billion, even leaving aside weather effects. They sit uneasily alongside surveys showing a strong rebound in export orders and deliveries.

The details are here but, while they will make big news in tomorrow's papers, and have weakened the pound a bit, should be taken with a pinch of salt.