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Thursday, March 28, 2024

Import Prices Dip as Expected, Export Prices Unexpectedly Dip: GDP and Forex Analysis

Courtesy of Mish.

The BLS’ Import and Export Price Report for June shows Import and Exports prices both declined 0.2% from May. Econoday economists called import prices correctly but expected export prices would be flat.

Month-Over-Month Changes

I reordered the charts in the BLS report to highlight what’s important for GDP purposes.

Imports subtract from GDP while exports add to GDP. With export prices falling more, this report is decidedly net negative for second quarter GDP.

Year-Over-Year Changes

Select Import Prices


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