February Trade Deficit Lower as U.S. Exports Grew More Than Imports…

The Last Refuge | 4/17/2019 | sundance
ali11ali11 (Posted by) Level 3
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The Bureau of Economic Analysis (BEA) reports a much lower trade deficit than all economists predicted. This is good news for the upcoming GDP growth report because the value of imported goods are deducted from GDP.

The smaller overall trade deficit was primarily driven by a decrease in the deficit with China. The deficit with China decreased $3.1 billion to $30.1 billion in February. As noted by Reuters: ““It sounds like pencils are being sharpened in order to revise up first-quarter GDP forecasts,” said Jennifer Lee, a senior economist at...
(Excerpt) Read more at: The Last Refuge
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