The following US economic statistics were announced today:

Export prices in December fell -0.1%, while import prices rose by 1.1%. On a year-over-year basis, import prices are down -0.1% and export prices are down -1.5%. Softening prices may be a harbinger of economic slowdown, but, on the plus side, we can expect inflation to remain restrained in the immediate future.

The the US trade deficit expanded to $48.7 billion in November, a $6.6 billion increase from October. Apparently, though, this is a one-time surge due to imports of the iPhone 5 from China.

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Dale Franks
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