U.S. deficit up to 10 year record, jobs numbers improving
- US Market
- 2 months ago
Trump's claims of being a tariff man may not be so tough after all, data published on Thursday shows that the U.S. trade deficit rose to a 10-year high in October due to soybean exports decreasing further and consumer goods imports climbed to a record high.
Other data provided showed private employers hired less workers in November than originally forecasted, meaning that there is an increased growing pace in jobs, the same point has been strengthened by further data pointing to lesser Americans filing for unemployment benefits.
However weak housing, equally weak business spending on equipment is a signal to an economic slowdown.
According to the Commerce Department, the trade deficit rose to $55.5 billion up 1.7%, the highest since October 2008.
September data was studied and showed deficit increasing to $54.6 billion rather than the reported figure of $54.0 billion.
Evidently showing a broadening of the trade gap for five consecutive months.
Source: Smart Trend Team