Research Team at Nomura, suggests that the US container data suggest that both exports and imports declined in January.
Key Quotes
“However, a decline in goods in goods inflows outpaced a moderate decline in goods outflows on the month. As a result, we forecast that the trade deficit narrowed to -$40.9bn in January from -$43.4bn in December. The trade balance for January could have a material impact on Q1 GDP tracking and is now especially important, given the impact of slower global growth and other external developments that have weighed on some domestic sectors.”
