Trade Deficit in U.S. Was Probably Little Changed in September

http://www.businessweek.com/news/2011-11-11/trade-deficit-in-u-s-was-probably-little-changed-in-september.html

Trade Deficit in U.S. Was Probably Little Changed in September
November 11, 2011, 2:23 AM EST

Nov. 10 (Bloomberg) -- The U.S. trade deficit was probably little changed in September as slowing global growth weighed on exports and imports, economists said before a report today.

A shortfall of $46 billion is projected after a $45.6 billion gap in August, according to the median forecast of 76 economists surveyed by Bloomberg News before today’s Commerce Department report. Jobless claims last week and October import prices were little changed, two other reports may show.

American exports may taper off as Europe heads toward what its new central bank chief calls a “mild recession” and China’s economy cools. At the same time, U.S. imports may be limited by what Federal Reserve Chairman Ben S. Bernanke said is a “frustratingly slow” recovery.

“We see the behavior of imports and exports staying more or less the same and offsetting each other,” said Michael Gapen, a senior U.S. economist at Barclays Capital Inc. in New York. “Globally, it looks like we’re entering into a period of slower growth, particularly for Europe.”