U.S. Economy Boosted By Trade
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Exports help raise Q4 GDP to a stronger-than-expected 3.5%
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Strong business investment and higher exports drove the U.S. economy ahead at a robust 4 percent annual rate in the second quarter before turmoil in credit markets struck that is expected to brake growth ahead.
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America's trade deficit improved slightly in June as record sales of U.S. farm products and other exports blunted the impact of soaring crude oil prices.
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The value of goods imported into the United States last year was $763.3 billion more than the value of what was exported.
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Increased spending by consumers and business helps US economic growth rise at a higher-than-predicted rate in the July to September period.
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Retail sales rose more than twice as  much as expected in May, while import prices surged, adding to  recent data suggesting the U.S. economy is recovering strongly  after a slowdown in the first quarter.
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U.S. economic growth picked up in the fourth quarter, according to a government report Wednesday that showed an economy stronger than expected for the last three months of hte year.
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The U.S. trade deficit in November surged to the highest level in 14 months, reflecting record imports of foreign oil. The deficit with China declined slightly while the weak dollar boosted exports to another record high.
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The US trade deficit ballooned to a record high of $617.7 billion last year, pushed by soaring oil prices and Americans' insatiable appetite for everything foreign, from cars to toys and food.
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The US trade deficit has expanded to its highest level in 14 months, official data shows.
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The U.S. trade deficit widened more than expected in December and grew 6.5 percent during all of 2006 to a record $763.6 billion, a U.S. Commerce Department report showed on Tuesday.
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A breakthrough soon in world trade  talks would give the global economy a much-needed boost at a  time when many are worried about a possible downturn, top U.S.  and Australian trade officials said on Friday.
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An important US economic measure moved higher in November for the first time in nearly half a year. The index of leading economic indicators, forecasting activity in the coming months, rose 0.2 points from
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The U.S. trade gap widened nearly 9  percent in October to a record $55.5 billion as sky-high oil  prices helped propel imports into new territory, while  industrial output rose as expected in November.
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Retail sales rose more than twice as much as expected in May, while import prices surged, adding to recent data suggesting the U.S. economy is recovering strongly after a slowdown in the first quarter.
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The U.S. economy grew at a stronger than expected pace during the final quarter of last year, boosted by robust spending and slowing inflation that more than offset the biggest decline in residential investment in 15 years, a government report on Wednesday showed.
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The U.S. economy shot forward at an  upwardly revised 5.3 percent annual rate in the first quarter,  the fastest growth in 2-1/2 years, as companies built up  inventories and exports strengthened, a Commerce Department  report on Thursday showed.