China’s General Administration of Customs reported that Chinese exports to all other countries were in February 2018 an incredible 44.5% more than they were in February 2017. Such a massive growth rate coming now has served to intensify the economic boom narrative. A strengthening U.S. recovery is helping underpin China’s outlook as Asia’s biggest economy seeks to cut excess capacity [...]
After an incredible run, up nearly 10% in just four months, imports took a break in January 2018. Year-over-year, not seasonally-adjusted, imports gained 9.5%, a rate that is better than experienced during the similar upturn in 2014 but still well short of what the rest of the world requires for global growth. The fact that almost all of that gain [...]
In February 2013, the Chinese Golden Week fell late in the calendar. The year before, 2012, New Year was January 23rd, meaning that the entire Spring festival holiday was taken with the month of January. The following year, China’s New Year was placed on February 10, with the Golden Week taking up the entire middle month of February. For economic [...]
US imports rocketed higher once again in December, according to just-released estimates from the Census Bureau. Since August 2017, the US economy has been adding foreign goods at an impressive pace. Year-over-year (SA), imports are up just 10.4% (only 9% unadjusted) but 9.3% was in just those last four months. For most of 2017, imports were flat and even lower. [...]
Back in October, the Bank of Korea raised its economic outlook for the country. The central bank’s economic models foresaw rising fortunes, leading them toward a central tendency of 3% growth. At that level, Korea’s economy would be growing at the fastest rate in three years (what happened in between?). It was as much a nod to the idea of [...]
For the fourth quarter as a whole, Chinese exports rose by just less than 10% year-over-year. That’s the highest quarterly rate in more than three years, up from 6.3% and 6.0% in Q2 2017 and Q3, respectively. That acceleration is, predictably, being celebrated as a meaningful leap in global economic fortunes. Instead, it highlights China’s grand predicament, one that country [...]
According to the Census Bureau, US companies have been importing foreign goods at a relentless pace. In estimates released last week, seasonally-adjusted US imports jumped to $204 billion in November 2017. That’s a record high finally surpassing the $200 billion mark for the first time, as well as the peaks for both 2014 and 2007. While that may be encouraging [...]
As weird as it may seem at first, the primary economic problem right now is that the global economy looks like it is growing again. There is no doubt that it continues on an upturn, but the mere fact that whatever economic statistic has a positive sign in front of it ends up being classified as some variant of strong. [...]
The Census Bureau reported earlier today that US imports of foreign goods jumped 9.9% year-over-year in October. That is the second largest increase since February 2012, just less than the 12% import growth recorded for January earlier this year. In both monthly cases, however, the almost normal rates of increase which would have at least suggested moving closer to a [...]
The American view of the “rising dollar” period is one of truly understated appreciation. I wouldn’t be surprised if many of us didn’t realize there was ever a downturn to begin with, let alone one that flirted with proportions reaching recession. After all, the most widely felt effects didn’t manifest and really sting until the labor market slowdown dragged into [...]
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