Hot off the Press


 

SHARE:  

USBIC Sounds Alert on Manufacturing Trade Deficit

USBIC Sounds Alert on Manufacturing Trade Deficit

Friday, December 21, 2007
 
While the U.S. trade deficit rose only slightly in October, the manufacturing deficit skyrocketed by 20 percent—exports by U.S. manufacturers rose an impressive 7.8 percent in October, but imports of manufactured goods rose by 12.75 percent, according to the United States Business and Industry Council. Year to date, the manufacturing deficit through October stands at $512 billion, 2.85 percent less than the same period last year. The U.S. trade deficit with China increased 9.1 percent in October—U.S. exports rose by 1.28 percent while U.S. imports from China grew by 7.61 percent. And, most alarming, in light of the plunge of the value of the dollar versus the Euro, America’s trade deficit with Europe nearly doubled in October, with exports from U.S. companies rising by 4.14 percent compared to America’s goods imports from Europe growing by more than 26 percent. Learn more at www.americaneconomicalert.org.

 

Visit Our Sponsors