US advanced goods trade balance -74.4B vs -72.3B expected

Advanced goods trade balance for January

The advance goods trade balance for January comes in at -74.4B vs expected deficit of -72.3B.
The prior month revision comes in -72.3B (the original came in at -71.6B).

• Exports of goods for January were $133.9 billion, $3.1 billion less than December exports.
• Imports of goods for January were $208.3 billion, $0.9 billion less than December imports.
• Both imports and exports are lower but with exports falling more.
• Over the last year, exports of goods have declined by -2.2%. Imports have declined by -0.5% over the last year. That increased the trades in goods deficit from -68.1B to -74.4B.

Below is the table of changes from the Census Bureau:

In other news from the Census Department this morning:

• US Wholesale inventories rose 0.7% versus 0.4% estimate. The prior month was revised higher to 0.6% from 0.4%
• The retail inventories for January rose 0.8%. There was no estimate. The prior month was revised higher to 0.3% from 0.2%

Most of the focus is on Fed Powell's prepared text for his testimony on Capitol Hill. However, but durable goods and advance trade are weaker and could see a fall in first-quarter GDP as a result. Inventories were positive however.