Breaking News

The U.S. Trade Deficit Unexpectedly Widens
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

The Commerce Department figures showed that the gap  widened by 7.7 percent to $42.3 billion, the biggest since September, from the prior month’s $39.3 billion, according to Bloomberg News. The U.S. trade deficit has unexpectedly widened as February shows the highest level in five months, as exports of fuels and of capital equipment both dropped.

Economic growth will become further depressed from this deterioration in trade in the first quarter and the slowdown in consumer spending has already been seen due to unusually harsh winter weather.

  
What
Where


Economists polled by Reuters had forecast the trade deficit falling to $38.5 billion. In addition to weak exports, February’s rise in the deficit, according to Economic Times, likely reflected an increase in the price of crude oil.

The India Times Reported that, exports slipped 1.1 per cent to $190.4 billion in February. That was the lowest level since September. It has been reported that the decrease largely reflects a steep drop in exports of industrial supplies.

A U.S. economist at RBS Securities in Stamford, Connecticut, Guy Berger said that, “Trade is going to be a little bit of a drag for first-quarter growth,” beyond that Berger shares, according to Bloomberg News, “factors favor a gradual narrowing of the trade deficit. Exports will increase as many of the emerging markets are still expanding, and while Europe is not doing great, it is growing. Imports will rise as the economy gets better.” Excluding petroleum, the trade shortfall widened to $22.4 billion from $19.9 billion.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




The European Central Bank has forecast that the 18-nation economy will grow 1.2 percent this year and 1.5 percent in 2015. NBC News reported that employers have added 204,000 new jobs to the payrolls last month, and according to a report by CNBC News, a report on Wednesday showed that private employers also stepped up hiring in March for a second straight month.

Image Credit: www.reuters.com





 

RELEVANT JOBS

Trademark Paralegal

USA-FL-Miami

MAVEN IP is looking for a detail-oriented full-time paralegal assistant with experience and kno...

Apply now

Associate Attorney

USA-NJ-Middletown

Plaintiff\'s Associate Attorney with a minimun 2 or more  years experience in New Jersey Person...

Apply now

Litigation Paralegal

USA-PA-Wexford

Myers Law Group, LLC is in search of a paralegal with at least 1-2 years of experience in the area o...

Apply now

Remote Attorney Placement Professional

USA-TX-Dallas

We are currently seeking a legal recruiter to join our Dallas office. The ideal candidate will be pe...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Environmental And Land Use Associate Attorney

USA-NY-New York City

New York City office of a BCG Attorney Search top ranked law firm seeks Environmental and Land Use A...

Apply Now

Litigation Associate Attorney

USA-UT-Saint George

St. George office of our client seeks Litigation Associate Attorney with 1 year of experience. The c...

Apply Now

Partner-level Associate Attorney

USA-NY-New York City

New York City office of our client seeks Partner-level Associate Attorney with 18 years of litigatio...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top