Smaller trade gap signals stronger growth
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The trade deficit shrank much more than expected in April, raising hopes for stronger economic growth as the weakening dollar helped trim imports and boost exports to a record.
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US Treasury Secretary John Snow said the record US trade deficit was the result of strong economic growth and the United States outpacing the growth of other countries.
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The trade deficit widened as expected in May, as higher oil prices helped lift imports to an all-time high, swamping a boost to exports from stronger overseas growth and a weaker dollar, a government report showed on Thursday.
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Stocks edged higher at the opening on Friday as data showing the U.S. trade gap narrowed more than expected in May offset concerns about rising interest rates.
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U.S. data shows slightly stronger-than-expected growth but also pricing pressures.
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WASHINGTON -- America's trade deficit increased in the spring to the second-highest level in history, reflecting a big jump in payments for foreign oil and a deterioration in the country's investment position.
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The US trade deficit narrowed in 2007, figures show, after rising exports offset the rapid growth in oil imports.
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The trade deficit jumped sharply in November, rising to $60.3 billion, increasing by 7 percent over the month before.
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Data in the coming week are expected to reveal a more resilient industrial sector and a narrowing trade gap.
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The economy is much stronger than the government reports, plus stocks are in short supply.
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Emerging economic expansion in Latin America fuels continued growth.
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The deficit for trade in goods has widened slightly in July from the figure for June.
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BRITAINâS trade gap with the rest of the world narrowed unexpectedly in September as goods exports surged to their highest level in more than two years, official data revealed today.
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Record imports and surging oil prices helped widen the U.S. trade deficit much more than expected in November to $63.1 billion, despite a ninth consecutive month of record exports, a U.S. Commerce Department report on Friday showed.
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Exports help raise Q4 GDP to a stronger-than-expected 3.5%
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There's more to growth than just a high growth rate.
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The trade deficit narrowed slightly in July as exports continued to outpace imports, the government said on Tuesday, suggesting trade could offer a welcome lift to third-quarter economic growth.