U.S. Trade Deficit Narrows On Record Exports
The U.S. trade deficit shrank to the lowest level in nearly two years because exports rose to a record high. The gain may not last given the global economic slowdown. The deficit narrowed to $41. 5 billion in September, the Commerce Department said Thursday. That is 5. 1 percent below the August deficit and the smallest imbalance since December 2010. Exports climbed 3. 1 percent to an all-time high of $187 billion. That followed two monthly declines and reflected stronger sales of commercial aircraft, heavy machinery and farm goods. Imports rose 1. 5 percent to $228. 5 billion. An increase in consumer goods drove the gain, including shipments of the new Apple iPhone 5. Higher oil prices also contributed to the gain. The narrower trade deficit could lead the government to revise its July-September economic growth estimate slightly higher than the 2 percent annual rate reported last month.
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exports deficit China trade deficit economic growth net exports World Trade Organization consumer goods Commerce Department Apple iPhone oil prices Latin America heavy machinery Capital Economics Obama administration commercial aircraft global European Union South America emerging markets United States import Brazil slowdown sales manipulator soybean month currency crisis debt monthly a single Paul farm manufacturersPeople:
Paul Dales
Overall Sentiment: 0
Relevance: 0.313695
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| 0.0254244 | "More generally, export growth has slowed by more than import growth as the weak global backdrop has taken its toll," said Paul Dales, ... |
| 0.0490293 | "More generally, export growth has slowed by more than import growth as the weak global backdrop has taken its toll," said Paul Dales, senior U.S. economist at Capital Economics. "So while these data may boost third-quarter ... growth by a couple of tenths of a percent, further ahead net exports may not add anything to growth." |
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Country: China
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Organization: Commerce Department
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Organization: European Union
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Company: Capital Economics
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Technology: iPhone
Overall Sentiment: 0.193564
Relevance: 0.312027
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Source : U.S. Trade Deficit Narrows On Record Exports
The U.S. trade deficit shrank in September to $41.5 billion, the lowest level in almost two years as exports rose to a record high. The 3.1 percent increase in exports reflected stronger sales of commercial aircraft, heavy machinery and farm goods.
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U.S. Trade Deficit Narrows On Record Exports
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