Trade Gap in U.S. Swells to Six-Year High as Imports Surge

0
598

1430865074_NYBZ178-223_2015_100739_hd-878x494

By bloomberg.com

The U.S. trade deficit widened in March to the highest level in more than six years, fueled by a record surge in imports as commercial activity resumed at West Coast ports following a resolution to labor disputes.
The gap increased 43.1 percent, the biggest jump in 18 years, to $51.4 billion, the largest since October 2008, the Commerce Department reported Tuesday in Washington.
The shortfall exceeded the highest estimate of 70 economists surveyed by Bloomberg. Purchases of foreign-produced foods, capital goods and consumer products all set records, while demand for petroleum dropped.

Container ships streamed into West Coast harbors in March after port operators and dockworkers negotiated a new contract, allowing the flow of imported and exported goods to resume. At the same time, steady employment gains, a nascent pickup in wage growth and a stronger dollar may also help fuel domestic demand for foreign goods, which will keep the deficit wide.
“Read the Full Article at www.bloomberg.com >>>>”

ATTENTION READERS
Due to the nature of independent content, VT cannot guarantee content validity.
We ask you to Read Our Content Policy so a clear comprehension of VT's independent non-censored media is understood and given its proper place in the world of news, opinion and media.

All content is owned by author exclusively. Expressed opinions are NOT necessarily the views of VT, other authors, affiliates, advertisers, sponsors, partners or technicians. Some content may be satirical in nature. All images within are full responsibility of author and NOT VT.

About VT - Read Full Policy Notice - Comment Policy