jeudi 5 février 2015
Trade Gap in U.S. Widened in December to Largest in Two Years
Posted on 06:37 by nice news
The U.S. trade deficit increased unexpectedly in December to a two-year high on a pickup in imports of motor vehicles and fewer shipments overseas.
The gap widened 17.1 percent to $46.6 billion, the biggest shortfall since November 2012, from a revised $39.8 billion in November, the Commerce Department reported Thursday in Washington. The median forecast in a Bloomberg survey of 68 economists called for a $38 billion deficit.
Companies imported a record $48.8 billion in consumer goods along with more industrial supplies and capital equipment, showing U.S. demand is holding up as global economies cool. Progress toward reducing the trade gap will probably be difficult because of slower demand from overseas markets and a rally in the U.S. dollar.
“The consumer is coming back to life, so that suggests we should import more,” Ward McCarthy, chief financial economist at Jefferies LLC in New York, said before the report. “The U.S. is the shining star among global economies. We’re generating much faster economic growth, much faster job growth than any other of the major Western countries and I don’t think that’s going to change anytime soon.”
Bloomberg survey estimates ranged from trade deficits of $35 billion to $44.4 billion. The Commerce Department initially reported a $39 billion shortfall in November.
For all of 2014, the trade gap widened 6 percent to $505 billion. Last year, the U.S. petroleum deficit, adjusted for changes in prices, was the lowest ever, while the non-oil shortfall was the highest in eight years.
Other reports released at the same time showed claims for jobless benefits rose last week and worker productivity declined in the fourth quarter.
Applications for unemployment insura
The gap widened 17.1 percent to $46.6 billion, the biggest shortfall since November 2012, from a revised $39.8 billion in November, the Commerce Department reported Thursday in Washington. The median forecast in a Bloomberg survey of 68 economists called for a $38 billion deficit.
Companies imported a record $48.8 billion in consumer goods along with more industrial supplies and capital equipment, showing U.S. demand is holding up as global economies cool. Progress toward reducing the trade gap will probably be difficult because of slower demand from overseas markets and a rally in the U.S. dollar.
“The consumer is coming back to life, so that suggests we should import more,” Ward McCarthy, chief financial economist at Jefferies LLC in New York, said before the report. “The U.S. is the shining star among global economies. We’re generating much faster economic growth, much faster job growth than any other of the major Western countries and I don’t think that’s going to change anytime soon.”
Bloomberg survey estimates ranged from trade deficits of $35 billion to $44.4 billion. The Commerce Department initially reported a $39 billion shortfall in November.
For all of 2014, the trade gap widened 6 percent to $505 billion. Last year, the U.S. petroleum deficit, adjusted for changes in prices, was the lowest ever, while the non-oil shortfall was the highest in eight years.
Other reports released at the same time showed claims for jobless benefits rose last week and worker productivity declined in the fourth quarter.
Applications for unemployment insura
Trade Gap in U.S. Widened in December to Largest in Two Years
Inscription à :
Publier les commentaires (Atom)
0 commentaires:
Enregistrer un commentaire