January 13, 2010 |
The U.S. trade deficit shot up nearly 10% to $36.4 billion in November, hitting its highest point since last January, the Department of Commerce said Tuesday. But even as imports soared, exports also grew -- for the seventh straight month. And some cheered the greater trade activity. "Today's numbers are a welcome sign of economic growth and increasing consumer demand," Commerce Secretary Gary Locke said. But one economist likened the situation to increasing a credit card balance by $100 a month, eventually leading to poverty.
March 7, 2013 |
WASHINGTON -- The U.S. trade picture dimmed at the start of this year as exports fell back and American imports rose more than most expected. On both sides, it was all about oil. The result was a sizable widening of the trade deficit in January, to a seasonally adjusted $44.4 billion from a revised $38.1 billion in December, the Commerce Department said Thursday. Analysts on average had forecast a smaller trade imbalance of about $42.5 billion for the month. On an inflation-adjusted basis, the January deficit was an even bigger $48 billion, which if it continues will put additional strain on a domestic economy already burdened by higher payroll taxes and fiscal cuts under the so-called sequestration.
July 14, 2010 |
In a sign that Americans are persisting in the risky habit of buying more than they sell in the global economy, the U.S. trade deficit jumped unexpectedly in May to the highest level since November 2008. That prompted some analysts to cut back their forecasts of how much the economy would grow in the second quarter and to warn that the underlying imbalance posed a threat to the nation's long-term prosperity and economic strength. "Definitely the weakness in trade through May suggests less momentum in the economy," said Shawn DuBravac, chief economist for the Consumer Electronics Assn.
January 7, 2014 |
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.
March 12, 2010 |
President Obama on Thursday launched an effort to rebuild the nation's long-term economic strength by sharply boosting exports, and he got a lift from government data showing that the trade deficit narrowed unexpectedly in January. But the trade report also showed that, although imports declined, U.S. exports lost momentum as well, slipping for the first time since last spring. The mixed signals pointed up just how great the challenge will be to meet the president's goal of doubling exports in five years, which was last accomplished in the 1970s when global competition was less intense.
August 6, 2013 |
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.
February 11, 2011 |
The U.S. trade deficit widened for the first time in four months in December on higher oil imports, the Commerce Department said Friday, but exports continued their upward trend and were nearing record levels. The nation's trade deficit expanded 5.9% in the final month of 2010, to $40.6 billion, the government's data showed. This marked the first increase and the largest trade gap since September, as the U.S. petroleum deficit hit its highest level since October 2008. Excluding petroleum, however, the deficit actually improved.
March 9, 2012 |
WASHINGTON — The U.S. trade deficit widened sharply in January, driven higher by record imports of autos, capital goods and food, government data showed. The trade gap expanded 4.3% in January to $52.6 billion from $50.4 billion in December, the Commerce Department said Friday. This is the largest monthly differential between imports and exports since October 2008 and came in much bigger than expected. Analysts surveyed by MarketWatch had predicted that the deficit would reach $49 billion.
September 23, 2011 |
The growing trade deficit with China has eliminated or displaced nearly 2.8 million U.S. jobs since 2001, or about 2% of all domestic employment during that period. Most of those jobs — 1.9 million — were in manufacturing, according to research out this week from the Economic Policy Institute, a left-leaning think tank. The computer and electronic parts industries were particularly hard hit. Apparel, textile fabrics, and motor vehicles and parts have also suffered. The report showed California is the state that has experienced the most employment losses, losing nearly 455,000 jobs from 2001 to 2010 because of trade with the Asian giant.