Consumer Sentiment - 10:00

From MarketWatch WASHINGTON (MarketWatch) -- Consumer sentiment pulled back in early November, according to media reports on Friday of the Reuters/University of Michigan index. The consumer sentiment index fell to 66.0 from 70.6 in October. The decrease was unexpected. The consensus forecast of Wall Street economists was for sentiment to rise to 71.8. After hitting 73.5 in September, the index has now fallen in two straight months.

Import Export prices - 8:30

Full report here U.S. IMPORT AND EXPORT PRICE INDEXES - OCTOBER 2009 The U.S. Import Price Index rose 0.7 percent in October, the U.S. Bureau of Labor Statistics reported today, led by a 1.8 percent increase in fuel prices. The rise followed a 0.2 percent increase in September. U.S. export prices advanced 0.3 percent in October after decreasing 0.2 percent the previous month. Imports All Imports: The increase in U.S. imports in October continued the recent upward trend for the index. Import prices have risen in seven of the past eight months and were up 8.1 percent over that period. Despite the recent increases, import prices declined 5.7 percent for the year ended in October driven by a 12.8 percent drop in prices between October 2008 and January 2009. Fuel Imports: Prices for import fuel advanced 1.8 percent in October after a 1.5 percent decline the previous month. A 24.1 percent increase in natural gas prices led the overall advance in October, while petroleum prices were also a contributing factor, advancing 0.9 percent. However, the price indexes for natural gas and petroleum both declined over the past year, falling 46.4 percent and 12.2 percent, respectively. All Imports Excluding Fuel: Nonfuel import prices rose 0.4 percent in October as higher prices for industrial supplies and materials, finished goods, and foods, feeds, and beverages all contributed to the advance. Prices for nonfuel imports rose between 0.4 percent and 0.5 percent in each of the past three months, the largest monthly advances since a 0.6 percent increase in July 2008. The index declined 2.9 percent over the past 12 months as sharp decreases at the end of 2008 more than offset the recent rises. Exports All Exports: Export prices rose 0.3 percent after falling 0.2 percent in September. Rising nonagricultural prices more than offset a drop in the price index for agricultural exports. Prices of overall exports decreased 3.4 percent for the October 2008-2009 period. Agricultural Exports: Agricultural prices fell for the third time in the past four months in October, declining 1.0 percent after recording a 3.0 percent decrease in September. Falling prices for soybeans and wheat, down 7.5 percent and 6.1 percent, respectively, continued to drive agricultural prices lower. In contrast, a 9.2 percent rise in corn prices partially offset those declines. The price index for overall agricultural prices decreased 10.0 percent for the year ended in October. All Exports Excluding Agriculture: Prices for nonagricultural exports increased 0.3 percent in October and have risen 2.3 percent since March. Higher prices for nonagricultural industrial supplies and materials and most of the major finished goods areas contributed to the advance. Despite the recent increases, a 4.6 percent drop in prices for the final two months of 2008 drove the index down 2.7 percent over the past year. SELECTED OCTOBER HIGHLIGHTS Import Prices Nonfuel Industrial Supplies and Materials: The price index for nonfuel industrial supplies and materials increased 1.6 percent in October after rising 2.8 percent the previous month. Rising prices for metals and chemicals were a major factor for the increases in both October and September. Finished Goods: Prices for each of the major finished goods areas rose in October. Prices for automotive vehicles advanced 0.6 percent, the largest increase since a 0.6 percent rise in December 2007. The October increase was partially attributable to year-end model changeovers. The price index for consumer goods advanced 0.3 percent, the largest gain for the index since a 0.6 percent increase in April 2008. Capital goods prices advanced 0.2 percent, the largest increase since a similar 0.2 percent rise in July 2008. The increase was led by higher prices for electrical generating equipment. Foods, Feeds, and Beverages: Prices for foods, feeds, and beverages ticked up 0.1 percent in October. The modest advance followed increases of 0.5 percent and 1.3 percent, respectively, in September and August. For October, higher prices for fruit and coffee more than offset falling meat and fish prices. Imports by Locality of Origin: Higher fuel prices drove import prices from Canada in October, up 1.2 percent. The October increase followed advances of 0.9 percent and 1.2 percent, respectively, in the previous two months. The price indexes of imports from the European Union, Mexico, China, and Japan also rose in October - up 0.6 percent, 0.7 percent, 0.1 percent, and 0.2 percent, respectively. Transportation Services: Import air passenger fares advanced 6.4 percent in October, the first increase since a 13.0 percent jump in June. The October advance was led by an 8.6 percent rise in European fares. Import air freight prices also increased in October, rising 1.5 percent after advancing 0.7 percent the previous month. Export Prices Nonagricultural Industrial Supplies and Materials: The price index for nonagricultural industrial supplies and materials increased 1.0 percent in October after ticking up a modest 0.1 percent in September. The October advance was driven by higher prices for metals, chemicals, iron and steel mill products, and fuel. Finished Goods: Finished goods prices were mixed in October. Prices for capital goods and for automotive vehicles rose 0.2 percent and 0.1 percent, respectively. In contrast, consumer goods prices edged down 0.1 percent. Transportation Services: Export air passenger fares rose 4.9 percent in October following a decline of 9.1 percent in September and an increase of 9.1 percent in August. Rising prices for European fares and Latin American/Caribbean fares contributed to the October advance. In contrast, export air freight prices fell 0.2 percent in October, the first monthly decline for the index since a 1.2 percent drop in June. Import and Export Price Index data for November 2009 are scheduled for release on Friday, December 11, 2009 at 8:30 a.m. (EST).

International Trade - 8:30

Full report Goods and Services The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the department of Commerce, announced today that total September exports of $132.0 billion and imports of $168.4 billion resulted in a goods and services deficit of $36.5 billion, up from $30.8 billion in August, revised. September exports were $3.7 billion more than August exports of $128.3 billion. September imports were $9.3 billion more than August imports of $159.1 billion. In September, the goods deficit increased $5.6 billion from August to $47.6 billion, and the services surplus was virtually unchanged at $11.1 billion. Exports of goods increased $3.5 billion to $90.3 billion, and imports of goods increased $9.1 billion to $138.0 billion. Exports of services increased $0.2 billion to $41.6 billion, and imports of services increased $0.2 billion to $30.5 billion. In September, the goods and services deficit decreased $23.7 billion from September 2008. Exports were down $20.0 billion, or 13.2 percent, and imports were down $43.7 billion, or 20.6 percent. Goods (Census basis) The August to September increase in exports of goods reflected increases in capital goods ($1.7 billion); industrial supplies and materials ($1.4 billion); consumer goods ($0.5 billion); automotive vehicles, parts, and engines ($0.2 billion); and other goods ($0.2 billion). A decrease occurred in foods, feeds, and beverages ($0.4 billion). The August to September increase in imports of goods reflected increases in industrial supplies and materials ($5.5 billion); automotive vehicles, parts, and engines ($1.7 billion); capital goods ($0.8 billion); consumer goods ($0.7 billion); and other goods ($0.5 billion). Foods, feeds, and beverages were virtually unchanged. The September 2008 to September 2009 decrease in exports of goods reflected decreases in industrial supplies and materials ($5.2 billion); capital goods ($5.1 billion); automotive vehicles, parts, and engines ($2.6 billion); foods, feeds, and beverages ($1.5 billion); consumer goods ($0.7 billion); and other goods ($0.3 billion). The September 2008 to September 2009 decrease in imports of goods reflected decreases in industrial supplies and materials ($22.9 billion); capital goods ($7.6 billion); consumer goods ($4.6 billion); automotive vehicles, parts, and engines ($2.2 billion); foods, feeds, and beverages ($0.8 billion); and other goods ($0.5 billion). Services Services exports increased $0.2 billion from August to September. The increase was mostly accounted for by increases in other private services (which includes items such as business, professional, and technical services, insurance services, and financial services) and other transportation (which includes freight and port services). Changes in the other categories of services exports were small. Services imports increased $0.2 billion from August to September. The increase was more than accounted for by increases in other transportation and other private services. Changes in the other categories of services imports were small. The September 2008 to September 2009 decrease in exports of services was $4.3 billion. The largest decreases were in travel ($1.4 billion), other transportation ($1.2 billion), and royalties and license fees ($0.9 billion). The September 2008 to September 2009 decrease in imports of services was $4.0 billion. The largest decreases were in other transportation ($1.9 billion), passenger fares ($0.7 billion), and other private services ($0.5 billion). Within other private services, the largest decreases were in business, professional, and technical services and financial services. Goods and Services Moving Average For the three months ending in September, exports of goods and services averaged $129.4 billion, while imports of goods and services averaged $162.5 billion, resulting in an average trade deficit of $33.1 billion. For the three months ending in August, the average trade deficit was $30.1 billion, reflecting average exports of $127.1 billion and average imports of $157.1 billion. Selected Not Seasonally Adjusted Goods Details The September figures show surpluses, in billions of dollars, with Hong Kong $1.9 ($1.3 for August), Australia $0.9 ($1.2), Singapore $0.3 ($0.3), and Egypt $0.3 ($0.4). Deficits were recorded, in billions of dollars, with China $22.1 ($20.2), OPEC $7.9 ($6.4), European Union $5.5 ($5.4), Mexico $4.6 ($4.0), Japan $4.1 ($4.3), Venezuela $2.0 ($1.9), Nigeria $1.9 ($1.7), Canada $1.5 ($1.5), Korea $0.8 ($0.4), and Taiwan $0.7 ($0.5). Advanced technology products exports were $20.5 billion in September and imports were $26.5 billion, resulting in a deficit of $6.0 billion. September exports were $2.0 billion more than the $18.5 billion in August, while September imports were $2.4 billion more than the $24.1 billion in August. Revisions Goods exports and imports for August were each revised up $0.1 billion. For August, revised export carry-over was virtually zero. For August, revised import carry-over was $0.1 billion (0.1 percent), revised down from $0.7 billion (0.5 percent). Goods carry-over in September was $0.1 billion (0.1 percent) for exports and $0.9 billion (0.7 percent) for imports. Services exports for August were virtually unrevised at $41.5 billion. An upward revision in travel was mostly offset by a downward revision in other transportation. Services imports for August were revised up $0.1 billion to $30.3 billion. The revision was mostly accounted for by an upward revision in travel.