Dec trade deficit widened to -$53.1b, since.>

US DATA: Dec trade deficit widened to -$53.1b, largest since Oct 2008 vs 

-$52.0b expected, as the census goods gap was wider than reported in adv 

est. Exports and imports both rose to record highs, while the Nov gap was 

virtually unrevised. 

- The BOP goods gap widened to -$73.3b in Dec, while the census goods 

gap widened to -$72.3b, wider than the -$71.6b in the advance estimate 

which was incorporated into the advance 4Q GDP report, so net exports 

could be revised down.

- Ex-petro, the goods gap widened to -$69.0b from -$65.3b, while the 

petro gap narrowed to -$3.3b from -$4.5b in Nov.

- Imports jumped on consumer goods (+$3.2b, cell phones +$1.7b), autos 

(+$1.1b), capital goods (+$0.8b), industrial supplies (+$0.6b, crude oil 

-$0.6b), and food (+$0.2b).

- Exports were driven higher by industrial supplies (+$1.5b), capital 

goods (+$1.2b, aircraft +$0.8b), and food (+$0.5b) offset by consumer 

goods (-$0.2b) and autos (-$0.1b).