Thursday, November 11, 2010
U.S. Trade Deficit Narrows
The U.S. trade deficit shrank in September, and the number of new claims for unemployment insurance fell to their lowest level in two years, both signs that the nation's economic recovery is gaining strength.
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It is my opinion that the trade deficit is one of the problems we, as a nation, have to fix in order to rocket out of this recession.
ReplyDeleteThis article said the trade deficit shrank 5.3% to $44 billion in September, the Commerce Department said Wednesday. Exports hit their highest level in a little over two years, boosted by service exports such as legal work and software consulting.
On top of that, Overall, sales abroad expanded 0.3% to $154.1 billion, the most since August 2008 and up from $153.6 billion the previous month.
These are good signs that we are picking up the pace to a pretty decent recovery.