Trade Deficit - March
Summary: Headline reads... Trade Balance narrows, better than expected. Under the sheets...
Trade Balance Mar -$58.2B vs -$62.3B Full Report
Inside the number: Imports dropped the most in six years -2.9% as purchases of furniture, cars and telecommunications gear fell.
The decline reflects the weakest economic growth since 2001 and a debauched dollar that makes imports more costly.
John Q pulls back... Today, crude topped $126 a barrel; despite averaging $90 during the period, purchases of crude oil dropped.
We catch cold, they get the flu... Total exports dropped -1.7% on a decline in sales of commercial aircraft, autos and petroleum products.
Russell Price, senior economist at H&R Block:
"Consumers have cut back significantly in just about every area but necessities, and we're seeing clear evidence of this in imports.
Weakness in our economy also seems to be affecting growth in other areas of the globe, thus slowing demand for our exports as well."
Trade Balance Mar -$58.2B vs -$62.3B Full Report
Inside the number: Imports dropped the most in six years -2.9% as purchases of furniture, cars and telecommunications gear fell.
The decline reflects the weakest economic growth since 2001 and a debauched dollar that makes imports more costly.
John Q pulls back... Today, crude topped $126 a barrel; despite averaging $90 during the period, purchases of crude oil dropped.
We catch cold, they get the flu... Total exports dropped -1.7% on a decline in sales of commercial aircraft, autos and petroleum products.
Russell Price, senior economist at H&R Block:
"Consumers have cut back significantly in just about every area but necessities, and we're seeing clear evidence of this in imports.
Weakness in our economy also seems to be affecting growth in other areas of the globe, thus slowing demand for our exports as well."
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