Ian Morris Quotes
We think the trade deficit deteriorated to $67B in January, the widest since October. Petroleum imports likely rose by over $1B due to higher prices - up 6.4%. In real terms, imports were probably close to unchanged. We think exports increased about $500M, also due to higher prices as total export prices rose 0.7%. Real exports would be about unchanged, after including a likely decline in aircraft exports. 
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Trade | Deficit | Deteriorated | January | Widest |
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In the FOMC statement, the Fed may have little choice but to acknowledge Q4 weakness, but will probably maintain that the first half (of 2006) should be better.
- Ian Morris
