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Economic Indicator: Diminishing Housing Inventory a Sign of Recovering Market

Economic Briefing

Yesterday, the U.S. Census Bureau released data on new housing starts and building permits.  Inventory is an important component of the construction data and recently, as the market has been recovering and completed homes have been selling relatively fast, the aggregate new housing inventory has been declining to some of the lowest levels on record.

Statement from U.S. Deputy Secretary of Commerce Rebecca Blank on Record International Trade in Goods and Services in 2012

WASHINGTON – Today U.S. Deputy Secretary of Commerce Rebecca Blank issued a statement announcing that U.S. goods and services exports reached an all-time record in 2012, totaling $2.2 trillion. Export records were seen across the board, including in: capital goods, automotive vehicles, parts, and engines; consumer goods; and travel and tourism. This announcement follows the release of the 2012 U.S.

Discrepancies in Trade Statistics between the United States and China Have Decreased, Joint Report Shows

Washington, DC - The U.S. Department of Commerce today released findings on the differences between the official trade statistics produced by the United States and China.

Commerce Releases Report Detailing the 2010 Geographic Concentration of Manufacturing Across United States

WASHINGTON, D.C. – The U.S. Commerce Department's Economics and Statistics Administration today released a new report that assesses the importance of manufacturing to local economies throughout the United States. The manufacturing sector added roughly 500,000 new jobs from the beginning of 2010 through the end of 2012, and contributed more than 25 percent of the overall growth in gross output between 2009 and 2011. 

Statement from Acting U.S. Commerce Secretary Rebecca Blank on International Trade in Goods and Services in October 2012

WASHINGTON – Acting U.S. Secretary of Commerce Rebecca Blank issued the following statement today on the release of the October 2012 U.S. International Trade in Goods and Services (PDF) by the Commerce Department’s Census Bureau and Bureau of Economic Analysis. In October 2012, imports of goods and services declined 2.1 percent from September to reach $222.8 billion, and exports of goods and services reached $180.5 billion, down 3.6 percent over this period.

Statement from Acting U.S. Commerce Secretary Rebecca Blank on International Trade in Goods and Services in September 2012

The U.S. Commerce Department’s Census Bureau and Bureau of Economic Analysis today released the balance of foreign trade for September 2012. The trade deficit narrowed 5.1 percent from August to September, to $41.5 billion–significantly better than market expectations that the monthly deficit would grow. Exports rose 3.1 percent, to $187.0 billion, and imports increased 1.5 percent, to $228.5 billion. Goods exports increased by $5.4 billion to a record high $134.0 billion. Services exports rose by $0.3 billion to $53.0 billion, also a record high.

Statement from Acting U.S. Commerce Secretary Rebecca Blank on International Trade in Goods and Services in July 2012

Acting U.S. Secretary of Commerce Rebecca Blank issued the following statement today on the release of the July 2012 U.S. International Trade in Goods and Services report (July 2012) by the Commerce Department’s Census Bureau and Bureau of Economic Analysis. U.S. goods and services exports in July 2012 were down 1.0 percent from June 2012 to reach $183.3 billion and imports declined 0.8 percent to $225.3 billion.

Statement by Acting U.S. Commerce Secretary Rebecca Blank on New Residential Construction in July 2012

WASHINGTON, D.C. – The Commerce Department’s U.S. Census Bureau today released new residential construction data for July 2012. Permits for new housing units were up 6.8 percent from June and up 29.5 percent from July 2011. Housing starts for July 2012 were down 1.1 percent from June, but up 21.5 percent from July 2011.

Statement by Acting U.S. Commerce Secretary Rebecca Blank on International Trade in Goods and Services in June 2012

WASHINGTON, D.C. – Acting U.S. Secretary of Commerce Rebecca Blank issued the following statement today on the release of the June 2012 U.S. International Trade in Goods and Services (June 2012) by the Commerce Department’s Census Bureau and Bureau of Economic Analysis. The U.S. trade deficit in June shrank a significant 10.7 percent from May, to $42.9 billion, exceeding private-sector expectations. Exports grew a strong 0.9 percent, to a record $185.0 billion, and imports declined 1.5 percent, to $227.9 billion. June exports of goods ($132.8 billion) were also the highest on record.

Statement from Acting U.S. Commerce Secretary Rebecca Blank on the Advance Estimate of GDP in the Second Quarter of 2012

The U.S. Commerce Department’s Bureau of Economic Analysis today released the advance estimate of gross domestic product (GDP) for the second quarter of 2012. Real GDP grew 1.5 percent at an annual rate in the second quarter, consistent with private sector expectations.

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