deficit
Washington (AFP) - The US trade deficit expanded slightly less than analysts expected in April, to the widest since late 2022, as imports rose more quickly than exports, according to government data released Thursday. The overall gap was $74.6 billion, growing from March's revised $68.6 billion figure, said the Commerce Department. This was the largest deficit since October 2022, according to official data. US consumption has been more resilient than anticipated even as the central bank rapidly hiked interest rates to dampen demand -- and this has helped to support imports. But with weaker glo...
AFP
Washington (AFP) - The US trade deficit was wider than analysts anticipated in March -- hovering close to the biggest in nearly a year -- with exports and imports both declining, according to government data published Thursday. The trade gap came in at $69.4 billion, narrowing slightly from February's $69.5 billion figure -- which had been revised larger, said the Commerce Department. Analysts had expected a figure of $69.0 billion, according to Briefing.com. While consumption has helped to support US trade, economists see trade flows easing ahead with cooler global demand and growth. Elevated...
AFP
Recent figures reveal that President Emmanuel Macron’s deficit reduction plan is behind target, meaning France must find additional revenue or face further fiscal uncertainty. Trapped in a stalemate between raising taxes or cutting spending, France instead should consider the revenue potential of principled tax policy design. On 26 March, the French National Institute of Statistics and Economic Studies announced France’s 2023 budget deficit was 5.5% of GDP, well above both the government’s 4.9% target and the EU’s 3% rate. The €16 billion gap is economically significant for any government, but...
Euronews (English)
Essentially, a country that imports more goods and services than it exports in terms of value has a trade deficit or a negative trade balance. Conversely, a country that exports more goods and services than it imports has a trade surplus or a positive trade balance. The latest data from France's statistical office comes after the Bank of America warned of inevitable excessive deficit procedures for France \- and others. "Many things fiscal are making a return in Europe at the moment, with France and Italy in particular on the market's radar," noted Bank of America in a recent report. Just befo...
Euronews (English)
Washington (AFP) - The US trade deficit narrowed in 2023 to the smallest in three years, government data showed Wednesday, while the country imported more goods from Mexico than China for the first time in about two decades. The latest figures add to a series of positive economic news for President Joe Biden, who has been working to boost sentiment on his handling of the economy as his November reelection campaign picks up pace. For all of 2023, the overall trade gap was $773.4 billion, down 18.7 percent from the $951.2 billion figure in the prior year, US Commerce Department figures showed. I...
AFP
Washington (AFP) - An increase in exports helped to reduce the overall US trade deficit in August to the smallest since late 2020, according to government data released on Thursday. The trade gap shrank to $58.3 billion, down nearly 10 percent from July's revised figure of $64.7 billion, said the Commerce Department. Analysts had expected a smaller change in deficit and the latest numbers showed exports rose $4.1 billion to $256 billion in August. Imports slipped by $2.3 billion from July to $314.3 billion. While consumer spending has helped to boost US trade, analysts have warned that this co...
AFP
Washington (AFP) - The US trade deficit narrowed in June on a bigger pullback in imports than exports, according to government data released on Tuesday. The overall trade gap came in at $65.5 billion in June, down from a revised $68.3 billion figure in May, Commerce Department data showed. This came as exports fell by $0.3 billion to $247.5 billion, while imports dropped $3.1 billion to $313.0 billion. While stronger than expected consumer spending has helped to boost US trade, analysts have noted that this could weaken going forward. "Overall, trade flows continued to slow in the second quart...
AFP
Washington (AFP) - The US trade deficit grew in April on a pullback in exports, bringing the gap to its widest since October 2022, according to government data released on Wednesday. Although the country's imports have been boosted by resilient consumer spending, analysts expect this trend to weaken as well going forward, while tighter lending conditions weigh on investments. The anticipation is that trade could bring negative growth to gross domestic product in the second quarter of the year. In April, the overall trade deficit was $74.6 billion, expanding slightly less than expected by $14 b...
AFP
Philadelphia (AFP) - President Joe Biden presented what amounts to his 2024 reelection pitch on the US economy Thursday, with a proposed budget slapping new taxes on the rich, while touting assistance for blue collar Americans. "My budget reflects what we can do to lift the burden on hard-working Americans," Biden said in a speech at a trade union hall in Philadelphia. "My budget plan is going to give people a fighting chance." The details released by the White House threw down the gauntlet to Republicans as the president builds to an expected reelection campaign announcement. Congressional Re...
AFP
Washington (AFP) - The US trade gap widened to a record in 2022, though expanding less than expected in December, government data said Tuesday, capping off the year on robust imports and strong spending. The overall trade gap grew $103.0 billion from 2021 to $948.1 billion last year, Commerce Department data showed, on a surge in goods imports ranging from crude oil to consumer items including pharmaceuticals and household products. This marks the biggest deficit dating back to 1960, according to government data. Analysts note that trade has been a swing factor in GDP growth over the last yea...
AFP
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