Tag: trade deficitSort
The U.S. trade deficit narrowed in May from April, helped by cheaper oil that lowered imports and an increase in American exports to Europe and China.
But economists cautioned that decline wasn't enough to alter weak growth forecasts for the April-June quarter.
The Commerce Department said Wednesday that the trade deficit fell 3.8 percent to $48.7 billion in May, down from $50.6 billion in April.
Exports rose 0.2 percent to $183.1 billion. The increase reflected stronger sales of telecommunications equipment and heavy machinery.
Why Chinese Yuan (RMB) is not the solution to US Trade Deficit?
US trade gap narrows unexpectedly as exports surge
The US trade deficit unexpectedly narrowed in October as exports rose to their highest level in almost a year, official figures have shown.The deficit fell to $32.9bn (£20.2bn), 7.6% lower than September's downwardly revised $35.7bn figure.Helped by the weaker value of the dollar, US exports increased by 2.6% to $136.8bn, led by civilian aircraft, cars and computer chips.
Big Oil In Trouble?
Crude oil dropped below $89 after the moribund service sector data came out, with predictions of oil dropping to about $70 a barrel before this crisis plays out with a toxic mix of a protectionist trend, a long term reduction in consumer spending, lack of global demand for oil due to multiple reasons and a U.S.