• The US trade gap widened to the highest level since 2008.
• Import were at the highest levels since July 2008 (+1.7% MoM) on Capital Good Demand (highest on record)
• Export increased 0.7%
• Price adjusted deficit used for GDP widened to 47.7 billion form 47

When the deficit widens it is a subtraction from GDP.

• China deficit -23.135 vs -26.872
• Japan -6.541B vs -6.207B
• EU deficit -9.630B vs -9.728B
• Canada -3.877B vs -3.025B
• Mexico -4.946 vs -5.514B

US

Trade Balance:  Survey: -48.5B   Actual: -48.8B   Prior: -47.8B   Revised: -47.1B

Canada

• Annual output price inflation lowest since November 2010.
• Core output prices rise 0.3% on month, 2.4% on year.
• Input prices rise 0.5% on month, up 7% on year.
• Construction output falls unrevised 0.5% in Q4.

• Greek bailout package is in its final stage.
• Expects a solution on the Greek bailout to be reached next week.
• Confident that Greece will remain in the Euro-zone.

Industrial production was also worse at -1.4%.