US growth outlook may be revised up
Source: Agencies |
April 13, 2012, Friday
|
Print Edition
Print Edition
THE US trade deficit fell in February to the lowest point in four months because American exports rose to an all-time high while imports fell.
A narrower gap may lead to an upward revision in growth outlook for the first quarter.
The Commerce Department yesterday said the trade gap rose 12.4 percent to US$46 billion in February, down from US$52.5 billion in January.
Exports edged up 0.1 percent to a record US$181.2 billion. US businesses sold more goods in Europe, China and other parts of the world.
Imports fell 2.7 percent to US$227.2 billion, after hitting a record high in January. Imports of foreign oil, cars and machinery declined.
A narrower trade gap will weigh less on growth because it means firms sold more US-made goods overseas while US consumers bought fewer foreign-made goods.
A narrower gap may lead to an upward revision in growth outlook for the first quarter.
The Commerce Department yesterday said the trade gap rose 12.4 percent to US$46 billion in February, down from US$52.5 billion in January.
Exports edged up 0.1 percent to a record US$181.2 billion. US businesses sold more goods in Europe, China and other parts of the world.
Imports fell 2.7 percent to US$227.2 billion, after hitting a record high in January. Imports of foreign oil, cars and machinery declined.
A narrower trade gap will weigh less on growth because it means firms sold more US-made goods overseas while US consumers bought fewer foreign-made goods.
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