| US Trade Deficit Narrowed in March |
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| by Tom McGregor | Fri, May 9, 2008, 01:28 PM |
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According to the New York Times, “Americans shied away from buying imported automobiles, which fell 9.3 percent in March, and oil, which dropped 8.9 percent. It was the second consecutive month that crude oil imports had declined. Declines were reported in a variety of other consumer goods arranging from clothing to toys and furniture.” Meanwhile, exports decreased for the first time in 12 months, which is a troubling sign for American business struggling with a pullback among domestic consumers. Amid the current slowdown, foreign purchases have helped to prop up the American economy. In March, the Commerce Department reported, the trade deficit narrowed to $58.2 billion from a downwardly revised $61.7 billion in February. To read the entire article from the New York Times, lik here:
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Comments (2)
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written by Holy Roller , May 09, 2008 Actually our trade defict would be cut even more if we had enough empty containers available to export goods. However due to the extremely diminished imports (which have been for the last YEAR by the way, George Bush pay attention), we are not getting the equipment needed to meet export demand. Write comment
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