The United States trade gap was $38.7 billion in October, the lowest level since early this year, with exports to China hitting a high. Imports declined 0.5 percent, while exports rose 3.2 percent, the highest level in more than a year.
Steven Blitz, a senior economist for ITG Investment Research, said:"Building a recovery around export growth and the capital investment needed to bolster that sector is necessary for the U.S. economy to have a well-balanced and sustainable growth path."
The increase in American exports in October reflected a rise in sales of a variety of goods abroad. And exports swelled to record highs with two important U.S. trading partners -- Mexico and China.
"The United States is always looking to balance the consumer goods that we import from Asia with commodities that we can export to them," Mr. Blitz said.
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