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Gold Explains Some, Not All, of Sharp Widening in December Trade Deficit
From wellsfargo.bluematrix.com
If you were rooting for trade to boost economic growth in Q4, just about everything moved in the wrong direction in December. The U.S. economy increased its imports by more than $12 billion, with $10.2 billion off that increase coming from goods and the balance coming from increased service imports. On the other side of the ledger, exports fell by $5.0 billion despite the one silver lining, a scant $0.5 billion increase in service exports being swamped by a $5.5 billion decrease in U.S. goods exports. The total trade balance widened sharply as a result reaching $70.3 billion, falling back to its widest level in ... (full story)
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The U.S. trade deficit swelled in December, closing out a year in which the imbalance was essentially unchanged despite efforts by the Trump administration to close the wide gap. Closing out a tumultuous year in the global marketplace, the goods and services shortfall in December totaled $70.3 billion, the Commerce Department reported Thursday. That marked ...
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