US: Trade balance likely narrowed to -$37.0bn in September - Nomura

Research Team at Nomura, suggests that according to the preliminary estimate US exports grew by 0.9% m-o-m, while imports declined more than expected, by 1.1%.

Key Quotes

“The steady growth in exports suggests the final trade balance is likely to have improved. On services, imports grew strongly in August and expect some negative payback in September. However, if service imports do not revert in September, the overall trade balance might not have improved as expected in September. For this reason, we think that the balance of risks leans toward the downside. Overall, we forecast a narrowing of the total trade balance to -$37.0bn in September (Consensus: -$38.0bn).”