Trade Deficit Jumps in September

Posted on Friday, November 13, 2009

The trade deficit in the U.S. widened in September by the most in a decade, reflecting rising demand for imported oil and automobiles as the economy rebounded from the worst recession since the 1930s.
The gap grew a larger-than-anticipated 18 percent to $36.5 billion, the highest level since January, from a revised $30.8 billion in August, the Commerce Department said today in Washington. Imports surged by the most in 16 years, swamping a gain in exports.

A large component of that net trade deficit? Autos. This isn't a huge surprise. When we took a look at September Auto sales, foreign cars performed much better on a relative basis.

So glass half full? The global economy is rebounding. Glass half empty? We are back to an unstable path of relying too much of an indebted US consumer (see Eurozone GDP).

Source: Census

Jake 13 Nov, 2009

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Source: http://econompicdata.blogspot.com/2009/11/trade-deficit-jumps-in-september.html
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