U.S. Foreign Trade Deficit Contributes Good News on the Economy
Abstract:
After all the negative talk about turmoil in financial markets and the likelihood of recession in the first half of this year, the search is now on for good news about the U.S. economy. There is some encouragement to be taken from the latest trade statistics. The trade deficit in goods and services has dropped back to about $700 billion annualized, after topping out at more than $800 billion several times between mid-2005 and mid-2006. Improvement has come in one “services” area and two “goods” areas.
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After all the negative talk about turmoil in financial markets and the likelihood of recession in the first half of this year, the search is now on for good news about the U.S. economy. There is some encouragement to be taken from the latest trade statistics. The trade deficit in goods and services has dropped back to about $700 billion annualized, after topping out at more than $800 billion several times between mid-2005 and mid-2006. Improvement has come in one “services” area and two “goods” areas.