US Trade Deficit Narrows in September

0 comment
16,859 views

A new data released by the United States Commerce Department showed a slight decrease in the country’s trade deficit in September, but was still above last year’s record.

The United States trade deficit – as represented by the amount of its exports over imports – has slightly narrowed to $44 billion in September as production in technology and manufacturing sector increased, the Commerce Department said on Wednesday.

Based on records, US trade gap fell to $44 billion in September as the country’s exports edged up higher compared to the relatively lower imports figures. In August, the deficit also declined to $46.5 billion.

However, the September’s figures was still 40 percent higher compared to the same period last year, putting more pressure to the Obama administration to call for rebalance in the overall global economy.

The Commerce Department attributed the higher exports figures to the strong sales of US-made aircrafts, computers, and other telecommunications equipment.

The US government is now trying to beef up its production to balance out the trade – as represented by the amount of exports and imports – as the country eyes faster economic recovery following the global financial crisis.

The government announced the trade figures amid reports from the Labor Department that the job markets, particularly in the manufacturing sector, began to show some improvements last week.

According to the Labor Department, Americans can expect better hiring prospects in the coming weeks if the downward trend in the filing of jobless claims continued.

<< Online Discount firm plans Bigger Deals this Year to Grab Bigger Shares of Holiday Spending

US Trade Deficit Narrows in September

Comment

Categories

Popular News