May 10, 2012 |
For all the growth in domestic manufacturing and exports, the ballooning U.S. trade deficit continues to be a thorn in the side of the U.S. economy. The Commerce Department said Thursday that the nation's trade deficit widened to a larger-than-expected $51.8 billion in March, up from $45.4 billion in February. The U.S. posted record exports of $186.8 billion in March, but imports also hit a new monthly high of $238.6 billion. Unlike in recent months, the jump in the deficit wasn't mostly because of higher oil imports.
January 11, 2013 |
WASHINGTON -- A spike in American imports of consumer goods, autos and other products led to a sharp increase in the U.S. trade deficit in November from the prior month, the government said Friday. One immediate implication of the unexpectedly big widening of the trade deficit, to a seven-month high of $48.7 billion, is that the U.S. economic growth rate for last year's fourth quarter is likely to be marked lower, probably closer to a measly 1% annual rate. Yet the latest trade report may not be as bad as it looks.
March 10, 2011 |
The U.S. trade deficit widened sharply in January to the highest level since the summer, as a surge in imports overwhelmed record levels of exports. The nation's trade deficit expanded 15.1% in January to $46.3 billion from a revised $40.3 billion in December, the Commerce Department said Thursday. This is the largest trade gap since June 2010 and also the biggest one-month worsening in the deficit since that same month. The widening of the deficit was much larger than expected.
August 9, 2012 |
WASHINGTON -- The nation's trade deficit fell sharply in June to an 18-month low, with U.S. exports hanging tough despite the debt problems in Europe and the global economic slowdown, the Commerce Department reported Thursday. The drop in the trade deficit, to $42.9 billion from $48 billion in May, means economic output was probably stronger in the second quarter than initially reported. The government's early estimate of gross domestic product for the April-to-June period was 1.5% annualized, but the better trade data suggests that the figure will be revised to a rate closer to 2%. Separately, the Labor Department said new claims for jobless benefits dropped to 361,000 for the week ended Saturday, from a revised 367,000 in the prior week.
CALIFORNIA | LOCAL
December 21, 1987
This is in response to the article, "October Trade Gap Hits Record $17.6 Billion" (Part 1, Dec. 11) Here are three reasons for our one-sided trade gap with Japan, Western Europe et al. --A B-1 bomber will not fit in my garage, but a BMW or a Toyota will. --An MX missile will not fit in my living room, but a Sony television will. --A cluster bomb will not fit in my kitchen, but a Sanyo microwave oven will. Need I say more? MONROE LEUNG Beverly Hills
January 13, 2011 |
The U.S. trade deficit narrowed for a fourth straight month in November, government data showed Thursday, confounding economists who had expected an increase. The nation's trade deficit contracted 0.3% to $38.3 billion from a revised $38.4 billion in October, the Commerce Department said, making it the smallest trade gap since January 2010. Analysts surveyed by MarketWatch had expected the deficit to widen to $40.3 billion. The trade deficit shrank 13.9% in October. The last time the deficit shrank four months in a row was in late 2008 and early 2009.