Forex News 24
  • RSS

news

U.S. Trade Deficit Widest In Over Nine Years In January

U.S. Trade Deficit Widest In Over Nine Years In January
админ
07/03/2018

ff00556f8b0b4c1dc1ca0cfe4a03987f - U.S. Trade Deficit Widest In Over Nine Years In January

Reflecting a notable decrease in the value of exports, the Commerce Department released a report on Wednesday showing the U.S. trade deficit widened by more than expected in the month of January.

The report said the trade deficit widened to $56.6 billion in January from $53.9 billion in December. The deficit had been expected to widen to $55.1 billion.

The trade deficit in January was the widest since the $60.2 billion trade deficit seen in October of 2008.

Michael Pearce, Senior U.S. Economist at Capital Economics, said the data “suggests that net trade will once again be a drag on economic growth in the first quarter, and will only add fuel President Donald Trump’s protectionist rhetoric in recent weeks.”

The wider than expected trade deficit came as the value of exports slumped by 1.3 percent to $200.9 billion in January from $203.6 billion in December.

Notable decreases in exports of civilian aircraft, industrial supplies and materials, and other goods more than offset an increase in exports of consumer goods.

Meanwhile, the Commerce Department said the value of imports edged down by less than a tenth of a percent to $257.5 billion in January.

Decreases in imports of civilian aircraft, semiconductors, and cell phones and other household goods were largely offset by a jump in imports of crude oil.

The report also said the goods deficit widened to $76.5 billion in January from $73.7 billion in December, while the services surplus inched up to $19.9 billion from $19.8 billion.

Source

Related ItemsCommerce DepartmentdeficiteconomictradeTrump

Leave a Reply

Cancel reply

Your email address will not be published. Required fields are marked *

Anti-spam: complete the taskWordPress CAPTCHA


news
07/03/2018
админ
Related ItemsCommerce DepartmentdeficiteconomictradeTrump

More in news

273116ff712463a8fe797bc26d4bddd2 400x240 - Major policy change for the FED

Major policy change for the FED

админ30/08/2020
Read More
5ecd652efa96beb5e9daab8a81713e20 400x240 - Powell expected to preview Fed’s policy framework

Powell expected to preview Fed’s policy framework

админ27/08/2020
Read More
1cfd53e4dc84605be8f34b32e1fc08ff 400x208 - European markets look defensive

European markets look defensive

админ26/08/2020
Read More
Scroll for more
Tap

Last news

  • 273116ff712463a8fe797bc26d4bddd2 95x60 - Major policy change for the FED
    Major policy change for the FED
    news30/08/2020
  • 5ecd652efa96beb5e9daab8a81713e20 95x60 - Powell expected to preview Fed’s policy framework
    Powell expected to preview Fed’s policy framework
    news27/08/2020
  • 1cfd53e4dc84605be8f34b32e1fc08ff 95x60 - European markets look defensive
    European markets look defensive
    news26/08/2020
  • cbda506728f805be55e3597fd478b623 95x60 - Another record-setting session for U.S. stocks futures
    Another record-setting session for U.S. stocks futures
    news25/08/2020
  • 3c51d052540d35f9b8497fc0b1942d58 95x60 - $50M worth of cryptos or more left China
    $50M worth of cryptos or more left China
    news23/08/2020

Tags

american Asia Bitcoin China cryptocurrency currency Dollar dollar index economic Economists EUR euro Fed Federal Reserve forex futures GBP GDP Germany Index inflation interest rate interest rates Japan losses lost market markets monetary policy Oil price prices rate rates retail rise risk sales trade trade war trading Trump UK United States US

Copyright © 2019 Forex News 24, all rights reserved.

U.S. Labor Productivity Unchanged In Q4, Labor Costs Jump 2.5%
U.S. Private Sector Job Growth Exceeds Estimates In February