deficit
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)
Statistics agency Insee announced this week France's budget deficit jumped to 5.5 percent last year. Prime Minister Gabriel Attal told new channel TF1 on Wednesday the expected target in the medium-term budget plan – to be presented in September – would bring the deficit back to 2.7 percent GDP by 2027. This would translate to 50 billion in savings, according to the Court of Auditors. The French government's target is an unlikely success: Moody'sEconomy Minister Bruno Le Maire will meet majority and opposition parliamentarians this Thursday in Paris to form the 2025 budget. Attal said the poli...
Euronews (English)
France's public sector budget deficit widened in 2023 by more than the government had planned, according to data released on Tuesday by statistics agency INSEE. This means there was a greater gap between income and spending, throwing Macron's reputation as a fiscally stable president into doubt. The deficit can largely be explained by France's lower growth figures last year, which reduced tax revenue. The rate of spending expansion also eased only moderately last year, rising by 3.7%, following a rate of 4% in 2022. France's Finance Minister, Bruno Le Maire, warned earlier this month that the ...
Euronews (English)
Italy’s economy grew by 0.9% last year, exceeding a 0.7% forecast, the national statistics agency ISTAT confirmed on Friday. This modest victory was nonetheless tempered by a disappointing deficit figure for 2023, which came in at 7.2% of gross domestic product (GDP). The government had pencilled in a deficit of 5.3% for last year, although it was recorded at 8.6% in 2022. In response to the figures, Italy’s Minister of Economy and Finance, Giancarlo Giorgetti, placed some of the blame on the "irresponsible" superbonus scheme, a policy that helps Italians to renovate their homes through tax su...
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
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