No. 954: May 2018 Trade Deficit and Benchmark Revisions

(SGS Subscription required) • Troubled Economic Reporting in the Month or Two Ahead
• Benchmark-Revised Patterns of GDP Economic Activity Should Show a Softer 2007 Peak, a Deeper Collapse into 2009 and a Less-Robust Recovery, with Downgraded Growth in 2015 to 2017
• U.S. Trade-Balance Benchmark Revisions Indicated a Slower and a Deeper Real Merchandise Trade Deficit than Before
• April Nominal Balance of Payments Deficit Improved in April 2018
• Consumer Liquidity Conditions Continued to Tighten, as Real Household Debt Contracted in First-Quarter 2018, while Slowing Annual Growth in Real Consumer Credit Intensified Sharply in April 2018

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