August 11, 2011 |
China's trade surplus in July swelled to its highest level in more than two years, led by strong demand from Europe and emerging markets in Asia. But analysts said that's likely to be unsustainable if the global economy continues to weaken. The country's trade surplus rose to $31.5 billion in July, the biggest gap since January 2009 and up from the $22.3-billion surplus registered in June, Beijing said Wednesday. Chinese exports grew an impressive 20.4% from a year earlier, to $175.1 billion, the strongest performance since April.
June 9, 2011 |
WASHINGTON — Record U.S. exports in April tempered fears that the economic recovery was running off the rails, even though first-time claims for jobless benefits edged higher last week. A Commerce Department report released Thursday showed the U.S. trade deficit narrowed unexpectedly in April as exports hit a new high and imports from Japan tumbled more than 25% after its earthquake, tsunami and nuclear disaster. The trade gap narrowed 6.7% from March to $43.7 billion even though oil prices hit their highest level since September 2008.
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.
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.
September 10, 2010 |
The number of people who filed new claims for unemployment benefits fell in the latest week, reversing a recent run-up that stoked concerns of a weakening job market. Also Thursday, the Commerce Department reported that the U.S. trade deficit dropped sharply in July as exports rose, a positive indicator. Although the economy is still weak and jobs are hard to find, the data are the latest in a string of reports that have eased concerns of a double-dip recession. New unemployment applications shot as high as 504,000 in mid-August, but this week's number is more than 10% lower at 451,000, according to Labor Department data.
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.