| Submit your comments on this article |
| Economy |
| US trade deficit hits record high |
| 2010-08-12 |
| [Iran Press TV Latest] The US trade deficit in June has reached its widest point in the past 20 months on the rising imports and weakening exports - an indication of a slow economic recovery. The US trade gap in June was on its fastest track since October 2008, reaching USD 49.9 billion, and disappointing expectations about a growing economy. "This is spectacularly terrible," economist Ian Shepherdson of High Frequency Economics said on Wednesday, explaining that rising imports eat in to already anemic US growth figures, AFP reported. Imports in June showed a three percent rise to hit USD 200.3 billion, while exports fell by 1.3 percent to USD 150.5 billion, the Commerce Department said. The June deficit bewildered both the government and private economists. "The slowing in exports will only fan fears of a faltering US recovery," said Sal Guatieri, an economist at BMO Capital Markets, AP reported. Most expert estimations put June's deficit at around USD 42.2 billion. Facing lackluster growth and a high jobless rate, the US Federal Reserve on Tuesday vowed to renew crisis-era measures that pumped hundreds of billions of dollars into ailing markets to prevent the economy from falling into another recession. US President Barack Obama has put export growth high on his agenda. Obama is seeking to double US exports during the next five years to about USD 3.1 trillion by 2015. |
| Posted by:Fred |
| #7 4, (Seasonally adjusted estimates) |
| Posted by: Besoeker 2010-08-12 19:59 |
| #6 RJ, But America is shopping with a "Krogers" credit card. |
| Posted by: Bright Pebbles 2010-08-12 13:26 |
| #5 Summer of Recovery!!!!! |
| Posted by: Hellfish 2010-08-12 12:47 |
| #4 I'm tired of hearing the lie "Trade Deficits" Example, You shop for groceries at (Say) Krogers, what have you sold Krogers? NOTHING Damn your trade deficit with Krogers sucks. (Or Wal Mart, Costco, etc) COMPLETELY IGNORING the cash you used as "Trade". |
| Posted by: Redneck Jim 2010-08-12 09:42 |
| #3 If you exploit and use your own energy resources, those petro and gas import numbers would go down. Just saying. |
| Posted by: Procopius2k 2010-08-12 07:37 |
| #2 > Facing lackluster growth and a high jobless rate, the US Federal Reserve on Tuesday vowed to renew crisis-era measures that pumped hundreds of billions of dollars into ailing markets to prevent the economy from falling into another recession. It's socialism! These aren't effects of TARP spending, we need to spend EVEN MORE. Madness on a stick. |
| Posted by: Bright Pebbles 2010-08-12 07:29 |
| #1 Obama is seeking to double US exports during the next five years to about USD 3.1 trillion by 2015. great. now the fearless leader is issuing 5 year plans. |
| Posted by: abu do you love 2010-08-12 00:59 |