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US Trade Deficit Narrowed in March PDF Print E-mail
by Tom McGregor    Fri, May 9, 2008, 01:28 PM

Deficit narrowing.jpgThe U.S. government reported on Friday that domestic demand for imports fell in March by the most since 2001, the latest indication that the economic slowdown is forcing Americans to rein in their spending habits.

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)add comment
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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.


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written by allan , June 05, 2008

UMMM excuse me, thible bummper, oh sorry bible thumper, in Dallas, there are about 22 yards where the containers sit, and ALL, of the ones in those yards are empty. You might ask how I know, I am a truck driver for an intermodel service.



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