"Economists are pessimists: they've predicted 8 of the last 3 depressions."
--Barry Asmus

The Required Disclosures

The information presented in this blog and its individual articles is provided for informational use only and should not be considered investment advice or an offer for a particular security. The contents reflect the views and opinions of the individual writer as of the date the article was written and do not necessarily represent the views of the individual writer on the current date. They also do not in any way, shape, or form represent the views of the Firm Never-To-Be-Named. Any such views are subject to change at any time based upon market or other conditions and The Great Redoubt and its individual writers disclaim any responsibility to update such views. These views should not be relied on as investment advice, and because investment decisions for any security are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any contributor to The Great Redoubt. Neither The Great Redoubt nor any individual author can be held responsible for any direct or incidental loss incurred by applying any of the information offered. Please consult your tax or financial advisor for additional information concerning your specific situation.

Thursday, May 10, 2012

Import and Export Prices

Import and Export Prices is exactly what it looks like.  A measure of the change in the prices we receive for exporting goods and services, and and a measure in the change in prices for goods and services we import.  It's a separate report from International Trade (go figure), and it is a one month lagging indicator.
 
March saw a 0.8% increase in export prices, and a 1.3% increase in import prices.  The Econoday-surveyed analysts are mildly bullish on this one, expecting a 0.2% increase in export prices for April, and a 0.2% decrease in import prices.  But are they right?  Let's go check the Bureau of Labor Statistics and find out.
 
Looking at the U.S. Import and Export Price Indexes - April 2012 report, it actually turns out they weren't bearish enough.  U.S. import prices declined 0.5% in April, and export prices increased 0.4%.  That's good news for domestic companies, at least[1].
 
The decline in import costs was led by a 2.1% drop in fuel import prices, which breaks down to a 1.8% decline in imported petroleum prices and a 14.1% decline in imported natural gas prices.    The increase in export costs was driven by a 2.0% increase in agricultural prices, led by a 7.4% increase in soybean prices.
 
[1]  The ones that don't import everything from overseas to resell in the US markets, that is.

No comments:

Post a Comment