Ian Shepherdson Deficit Quotations

If this is sustained we can be more hopeful the trade deficit will not rise further,

Believe it or not, this is a seriously encouraging report. There is a very good chance the underlying deficit has now peaked.

The rise in oil prices was always likely to hit these numbers with a vengeance, and the petroleum deficit duly rose by $1.4 billion.

November will be better, but the past year's flat trend in the core deficit seems to be breaking.

The key point is that the deficit is being easily financed.

The underlying trends are still adverse, however, and the deficit will rebound next month.