August 2013 Economic Indicators
Melanie Garza - Director of Operations
Exports on the Rise
August 2013 – US Exports are continuing to rise, while reliance on imports is weakening. According to the US Department of Commerce on August 6, June exports were up $4.1 billion over May totals. The United States sent $191.2 billion in goods and services out of the country in June. At the same time, imports were down from $231.2 billion in May to $225.4 billion in June.
Sectors with the most exports in June were industrial supplies and materials ($1.5 billion); capital goods ($1.5 billion); consumer goods ($1.0 billion); foods, feeds, and beverages ($0.3 billion). Automotive vehicles, parts, and engine exports declined as expected, much in part due to more international manufacturing sites.
June imports saw a decrease in the following industries: industrial supplies and materials ($2.5 billion); consumer goods ($1.6 billion); other goods ($1.2 billion); foods, feeds, and beverages ($0.4 billion); and automotive vehicles, parts, and engines ($0.3 billion). Capital goods were virtually unchanged.
Over the last 12 months, the goods and services deficit decreased $8.2 billion. Exports were up 3.2%, while imports were down 1.0 percent.
Consumer Confidence Remains High
Consumer Confidence in July fell slightly from June; however, May 2013 was a five year high.
Consumer Confidence in the United States decreased to 80.30 in July of 2013 from 82.10 in June. The Conference Board reported historically that United States Consumer Confidence averaged 93.67 from 1967 until 2013. The all-time high was reported in May 2000 at 144.70 in May of 2000 and it plummeted to a record low of 25.30 in February of 2009.
“Consumer Confidence fell slightly in July, precipitated by a weakening in consumers’ economic and job expectations. However, confidence remains well above the levels of a year ago,” said Director of Economic Indicators for the Conference Board Lynn Franco.