There appears to be an upside of the recession. The “International Trade” data, which is the US Trade Deficit, is shrinking. The report for January 2009 came in at -$36.03 billion. The consensus estimates were higher, as Dow Jones had a forecast of $37.3 billion and Bloomberg had an estimate of $38.1 billion. This may be the sixth consecutive month of shrinking unless revision data changed that. Economists harped over how this data was always too large as we were sending dollars overseas away from the U.S. Lower oil prices and less buying of goods may actually have an upside to it, if there is really any upside to the recession.
Jon C. Ogg
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