One of Those Economic Reports Nobody Talks About
Willie and I are beginning to suspect we’re among the few people paying attention to some of these economic reports.
Today’s report covered international trade, and while it may not receive the same attention as inflation, jobs, or the stock market, it still provides a useful snapshot of the economy.
A Quick Look at Today’s Trade Report
The U.S. trade deficit narrowed slightly in April as exports reached a record high. In simple terms, American businesses sold more goods and services to customers around the world.
Exports of products such as aircraft, energy, and other manufactured goods helped improve the trade balance.
For most consumers, this isn’t a report that directly affects day-to-day life the way inflation, employment, or housing data can. Still, it is generally a positive sign when U.S. companies are selling more products overseas.
The trade deficit remains large, but April’s report suggests international trade may provide some support to economic growth during the second quarter of the year.
Looking Ahead
Tomorrow is a different story.
The Consumer Price Index (CPI) report will be released, and it is one of the most closely watched economic reports of the month. Expect plenty of coverage from CNBC, the major networks, newspapers, and financial websites.
Willie and I will be taking a look as well, but we’ll focus on what the numbers mean for everyday consumers rather than Wall Street traders.
Additional Resources
U.S. International Trade Report:
https://www.census.gov/foreign-trade/index.html
Willie and I appreciate every reader.