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Analysts at Nomura expect a deficit of $69.0bn for the US advance estimate of goods trade balance for August, following $72.0bn deficit in July.

Key Quotes

“Incoming container shipment data at US ports suggest that goods exports likely rebounded in August after recent declines, while goods imports likely slowed.”  

Durable goods orders: We expect a healthy 0.6% m-o-m increase in extransportation durable goods orders for August, following a modest 0.1% in July. The new orders index in the ISM manufacturing survey improved strongly. August industrial production report indicated that the output of ex-transportation durable goods rose at a solid pace. Our forecast, if realized, would be consistent with the solid momentum in the industrial sector, boosted by strong domestic demand. For volatile transportation components, we expect a sharp rebound in August after a slowdown in July. New orders for nondefense aircraft and parts likely jumped strongly following a sharp pullback in the previous month. Altogether, we expect a 2.5% m-o-m increase in aggregate durable goods orders.”