US Trade Gap Hit $48.7 Billion in November
WASHINGTON — The U.S. trade deficit expanded in November to its widest point in seven months, driven by a surge in imports that outpaced only modest growth in exports. The Commerce Department said Friday that the trade gap widened 15.8 percent to $48.7 billion in November from October. Imports grew 3.8 percent to $231.3 billion, led by gains in shipments of cell phones, including Apple’s new iPhone. Exports increased only 1 percent to $182.6 billion. And exports to Europe fell 1.3 percent, further evidence of the prolonged debt crisis that has gripped the region. (MORE: How Safe is the Boeing 787?) A wider trade deficit acts as a drag on U.S. growth. It typically means the U.S. is earning less on overseas sales while spending more on foreign products. Faster growth in exports helped the U.S. economy grow from July through September at an annual rate of 3.1 percent. Most economists say growth has slowed in the October-December quarter to an annual rate of less than 2 percent, in part ...
U.S. Trade Deficit Grows to $42.2 Billion in October
(WASHINGTON) — The U.S. trade deficit increased in October because exports fell by a larger margin than imports, a sign that slower global growth could weigh on the U.S. economy. The trade gap with China also hit an all-time high. The Commerce Department says the trade deficit grew 4.8 percent in October from September to $42.2 billion. (MORE: Europe’s Crisis Measures Are Working…Sort Of) Exports dropped 3.6 percent to $180.5 billion. Sales of commercial aircraft, autos and farm products all declined. Imports fell 2.1 percent to $222.8 billion, reflecting fewer shipments of cell phones, autos and machinery. A wider trade deficit acts as a drag on growth. It typically means the U.S. is earning less on overseas sales of American-produced goods while spending more on foreign products. By MARTIN CRUTSINGER
United Technologies sent military copter tech to China
WASHINGTON - United Technologies Corp and two of its subsidiaries sold China software enabling Chinese authorities to develop and produce their first modern military attack helicopter, U.S. authorities said on Thursday.
Found more than 1 month ago on channel Reuters