The U.S. trade goods deficit rose to a record high in March, according to a Commerce Department report on April 27, as the value of imports dwarfed that of exports, reflecting skyrocketing inflation. Last month showed solid increases in retail and wholesale inventories, which may somewhat ease the effect of the trade deficit on domestic GDP…
US Trade Deficit Declines Slightly, as Retail Inventory Growth Slows
The U.S. trade deficit declined by $1 billion in February to $106.6 billion, or 0.9 percent, from $107.6 billion in January, reported the U.S. Census Bureau on March 28. The goods deficit topped $1 trillion for the very first time last year for an all-time high. The trade deficit has subtracted from U.S. GDP growth…
US Trade Deficit Widens with Record Imports
The U.S. trade deficit expanded drastically in November, driven by a record surge in imports of foreign goods, according to new data from the U.S. Bureau of Economic Analysis in collaboration with the U.S. Census Bureau. The government findings indicate that the trade deficit jumped to $80.2 billion in the penultimate month of 2021, constituting…
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