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Trade Deficit

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BUSINESS
January 13, 2012 | By Don Lee
Europe's prolonged debt crisis is starting to take bite out of American exports, a troubling sign for domestic manufacturers and the broader economy. The government said Friday that the U.S. trade deficit jumped 10% in November from the prior month, to $47.8 billion, the highest level since June. The unexpectedly big increase came largely from a rise in oil imports. But there was also a sharp drop in U.S. exports to Europe and smaller declines to Asia and South America, where economies also are slowing a bit. American shipments of capital goods, industrial supplies and cars all dipped over the month.
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SPORTS
February 22, 2014 | By Mike Bresnahan
Throw-ins? Almost as quickly as you could say "Blake Mamba," the seldom-used duo acquired from Golden State for Steve Blake erupted for a combined 29 points in the Lakers' 101-92 victory Friday night over Boston. Kent Bazemore and MarShon Brooks had averaged only 4.9 points combined this season before Bazemore scored 15 and Brooks had 14 against the Celtics. But can they do this consistently? "If you can do it once, you can do it twice," Lakers Coach Mike D'Antoni said Saturday.
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BUSINESS
April 12, 2012 | By Don Lee
Economists sharply raised their forecast for first-quarter economic growth after news of an unexpectedly big drop in the nation's trade deficit in February. The Commerce Department reported Thursday the trade deficit narrowed in February to $46 billion from $52.5 billion in January. Most of the decline was due to a sharper-than-expected 2.7% falloff in imports, much of that from China. U.S. exports in February was up a tiny 0.1%. Analysts said the trade gap was likely to turn up in March as Chinese production and shipments resumed after the Lunar New Year holiday in February.
BUSINESS
January 7, 2014 | By Don Lee
WASHINGTON - Rising American exports and surging energy production at home are narrowing the nation's typically large trade deficit, lifting the growth prospects for the economy and the job market. For the second straight month, American exports of goods and services climbed to a record high, reaching $194.9 billion in November from $193.1 billion in the previous month, the Commerce Department said Tuesday. California appeared to get an outsized share of the increases, based on a separate analysis of the Commerce data by Beacon Economics.
BUSINESS
May 10, 2012 | By Don Lee
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.
BUSINESS
January 11, 2013 | By Don Lee
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.
BUSINESS
March 10, 2011 | By Greg Robb
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.
BUSINESS
August 9, 2012 | By Don Lee
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.
BUSINESS
January 13, 2011 | By Greg Robb
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.
BUSINESS
April 14, 2010 | By Don Lee
The U.S. trade deficit took a turn for the worse in February as imports swelled to meet American consumers' renewed appetite for electronics, toys, apparel and other goods from abroad. The larger-than-expected $39.7-billion deficit was up from a revised $37 billion in January, according to figures released Tuesday by the Commerce Department. U.S. imports climbed 1.7% to $182.9 billion in February. American purchases of foreign-made consumer goods were particularly strong, jumping 3.1% from January to $38.1 billion.
BUSINESS
January 7, 2014 | By Don Lee
WASHINGTON - U.S. exports rose to a record high in November, helping to shrink the nation's trade deficit to the lowest in four years. The surprisingly positive trade report Tuesday adds to the upbeat outlook for the economy. With net exports stronger than expected, analysts revised higher their economic growth forecast for the fourth quarter, saying it will likely come in at a solid annual rate of about 3%. The Commerce Department said the U.S. trade deficit in goods and services with the rest of the world totaled $34.3 billion in November.
BUSINESS
October 24, 2013 | By Don Lee
WASHINGTON -- August was a humdrum month for U.S. trade. The level of exports and imports hardly moved from July, leaving the monthly deficit essentially unchanged at $38.8 billion. But the details of the new report, released Thursday by the Census Bureau, offer some encouraging signs that trade may soon provide a little more spark for the lackluster American economy. For the first eight months of this year, the nation's trade deficit totaled $317.9 billion. That's 13% smaller than the $365.7-billion shortfall during the same period last year.
BUSINESS
August 19, 2013 | By Jim Puzzanghera and Don Lee, This post has been updated. See the note below for details.
WASHINGTON -- The top U.S. trade official on Monday pressed Japan to open up its auto and insurance markets as he pushed for the completion of the Trans-Pacific Partnership trade deal. Speaking during a stop in Tokyo, U.S. Trade Representative Michael Froman said Japan plays a central role in the Asia-Pacific region and welcomed its decision this year to join the talks on a region-wide trade pact. But Froman said negotiators would have to address some remaining barriers for the U.S. and other countries in the Japanese market.
BUSINESS
August 6, 2013 | By Jim Puzzanghera
WASHINGTON -- The U.S. trade deficit unexpectedly plunged in June to its lowest level since late 2009 as exports jumped to a record high, the Commerce Department said Tuesday. A decrease in imports, particularly crude oil, also helped the deficit drop to $34.2 billion, from $44.1 billion the previous month.  The last time the trade deficit was lower was in October 2009. QUIZ: How well do you understand the Fed stimulus? Analysts had expected the deficit to fall only slightly, to about $43.5 billion.
BUSINESS
April 5, 2013 | By Jim Puzzanghera, This post has been corrected, as indicated below.
WASHINGTON -- The U.S. trade deficit narrowed in February, driven by a drop in crude oil imports and an increase in American goods and services exported abroad, the Commerce Department said Friday. With exports rising more than imports, the seasonally adjusted trade deficit was $43 billion in February, down from a revised $44.5 billion the previous month. The 3.4% decline in the trade deficit was below analyst expectations that the deficit would rise slightly to $44.6 billion.
BUSINESS
March 5, 2013 | By Shan Li
In the clean energy market, the U.S. trumped China. At least in 2011. U.S. firms held a $1.63-billion surplus in the clean energy trade over China, according to a report by the Pew Charitable Trusts. That surplus was for 2011, the latest year data is available. It was a rare bright spot in a relationship that had the overall U.S. trade deficit with China hitting $315 billion last year. Phyllis Cuttino, director of Pew's clean energy program, said the findings highlight the long-term potential for the U.S. to hold its top spot in the clean energy sector.
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
BUSINESS
February 9, 2013 | By Don Lee, Los Angeles Times
WASHINGTON - The U.S. trade picture brightened at the close of last year as exports rose at a solid pace and imports of oil and other goods shrank in December, dropping the monthly trade deficit sharply and probably lifting fourth-quarter economic growth. The trade data Friday from the Commerce Department could be another sign of strengthening global growth. Chinese exports have surged in the last two months, and some major European nations also have seen a recent pickup in trade.
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