Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     

MOODY'S CORPORATION

(MCO)
  Report
Delayed Nyse  -  04:03 2022-12-08 pm EST
289.86 USD   -0.28%
05:02pReplay of the BMO Growth & ESG Conference Fireside Chat Is Now Available
BU
12/07Nigeria's Downgrade By Credit Rating Agencies Not in Line With Current Realities - Govt
AQ
12/06Morgan Stanley Raises Price Target on Moody's to $294 From $271, Maintains Equalweight Rating
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

U.S. goods trade deficit narrows in August as imports fall

09/28/2022 | 09:39am EST
Shipping containers unloaded at Port Newark, New Jersey

WASHINGTON (Reuters) - The U.S. trade deficit in goods narrowed in August amid a decline in imports, which is being driven by slowing domestic demand as the Federal Reserve aggressively tightens monetary policy to tame inflation.

The report from the Commerce Department on Wednesday suggested that trade would again contribute to gross domestic product in the third quarter. The economy could also get a lift from big gains in wholesale and retail inventories last month.

"Trade should be a positive for third-quarter GDP," said Ryan Sweet, a senior economist at Moody's Analytics in West Chester, Pennsylvania. "Still, the third quarter isn't shaping up to be overly impressive."

The goods trade deficit contracted 3.2% to $87.3 billion last month, the smallest since October 2021. Imports of goods dropped $4.6 billion to $267.1 billion. There was a 6.9% plunge in imports of industrial supplies, which include petroleum.

Imports of capital goods dropped 1.8%, while those of consumer goods slipped 0.2%. There were, however, increases in imports of food, motor vehicles and other goods, which boosted retail inventories.

Goods exports fell $1.7 billion to $179.8 billion. The decrease in exports was led by motor vehicles, which tumbled 8.9%. Exports of industrial supplies fell 3.5%. But exports of consumer goods surged 8.0%. There were also increases in exports of food, capital and other goods.

Record exports and moderate consumer spending were the only bright spots in the economy in the second quarter, helping to limit the hit on gross domestic product from a sharp deceleration in the pace of inventory accumulation.

The economy contracted at a 0.6% annualized rate last quarter. That followed a 1.6% pace of decline in GDP in the January-March quarter. Growth forecasts for the third quarter are below a 1.5% rate, with a big drag from housing anticipated.

The U.S. central bank last week raised its policy interest rate by 75 basis points, its third straight increase of that size. It signaled more large increases to come this year.

The Commerce Department also reported that wholesale inventories jumped 1.3% in August after rising 0.6% in July. Retail inventories increased 1.4% after advancing 1.1% in July.

Motor vehicle inventories shot up 3.7% after rising 3.5% in the prior month. Retail inventories excluding motor vehicles, the component that goes into the calculation of GDP, increased 0.6% after gaining 0.3% in July.

(Reporting by Lucia Mutikani; Editing by Chizu Nomiyama and Paul Simao)

By Lucia Mutikani


ę Reuters 2022
All news about MOODY'S CORPORATION
05:02pReplay of the BMO Growth & ESG Conference Fireside Chat Is Now Available
BU
12/07Nigeria's Downgrade By Credit Rating Agencies Not in Line With Current Realities - Govt
AQ
12/06Morgan Stanley Raises Price Target on Moody's to $294 From $271, Maintains Equalweight ..
MT
12/02Barclays Adjusts Price Target on Moody's to $275 From $250, Maintains Equalweight Ratin..
MT
12/01Sector Update: Financial Stocks Fall but Finishing Above Intra-Day Lows
MT
12/01Sector Update: Financial Stocks Weighing on Broader Markets Following Wedn..
MT
12/01Transcript : Moody's Corporation Presents at Credit Suisse 26th Annual Techno..
CI
12/01Sector Update: Financial Stocks Edge Higher Premarket Thursday
MT
12/01Moody's Agrees to Acquire Central American Credit Agency Group SCRiesgo
MT
12/01Moody's to Acquire SCRiesgo, Expanding Reach in Latin American Domestic Credit Markets
BU
More news
Analyst Recommendations on MOODY'S CORPORATION
More recommendations
Financials (USD)
Sales 2022 5 436 M - -
Net income 2022 1 367 M - -
Net Debt 2022 5 534 M - -
P/E ratio 2022 40,2x
Yield 2022 0,96%
Capitalization 53 242 M 53 242 M -
EV / Sales 2022 10,8x
EV / Sales 2023 10,1x
Nbr of Employees 14 571
Free-Float 53,3%
Chart MOODY'S CORPORATION
Duration : Period :
Moody's Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MOODY'S CORPORATION
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 290,68 $
Average target price 288,94 $
Spread / Average Target -0,60%
EPS Revisions
Managers and Directors
Robert Scott Fauber President, Chief Executive Officer & Director
Mark Kaye Chief Financial Officer & Senior Vice President
Raymond W. McDaniel Non-Executive Chairman
Mona Breed Chief Information Officer & Senior Vice President
Helene Gurian Chief Compliance Officer
Sector and Competitors
1st jan.Capi. (M$)
MOODY'S CORPORATION-25.09%53 242
S&P GLOBAL, INC.-25.48%114 525
THOMSON REUTERS CORPORATION3.81%55 352
RELX PLC-2.79%54 288
MSCI, INC.-18.33%40 011
EXPERIAN PLC-19.77%32 685