Trade Balance (December 2012)
Trade Balance $ -38.5 billion. Previous was -48.7 Billion. Some of this was due to a large spike in November imports of the new iPhone. Exports were +2.1% and oil imports were -$4.7 Billion.
Wholesale Trade (December 2012)
– Inventories (month/Month) were -0.1%. This is the “I” in GDP = C+G+I+(X-M). The preliminary GDP report estimates I for December and this negative number supports a low GDP growth in the next revision to 4thQ2012 GDP.