The trade deficit of the United States of America slipped in November due to a steady decline in cellphone and petroleum product imports. As economists lifted their growth estimates for the fourth quarter, the trade deficit came down in a first in the past six months.
On Wednesday, the US Department of Commerce reported on the consumer goods drop — an effect of the recent stockpiling as the trade war between China and the US tightened,
Some economists are of the view that this slowdown increased the chances of the new labor talk. The only silver lining is that it will ramp up the GDP in the fourth quarter.
In November, the trade deficit slipped 11.5% to $49.3 billion. Before November, it had risen for five straight months.
The government shutdown further affected the release of the data.
The trade deficit with China slid to $37.9 billion in November from $43.1 billion in October.
The total trade deficit has been on higher levels due to new Trump policies and tariffs.
The goods trade deficit, after adjusting for inflation, fell $7.5 billion to $80.8 billion in November. In the last month, imports of goods and services went down 2.9% to $259.2 billion. Consumer goods imports declined $4.3 billion.
Petroleum product imports shed $1.4 billion while crude oil imports dropped $0.7 billion. November crude oil price was the lowest since April, at $57.54 a barrel.
Get access to timely and accurate verbatim transcripts that are published within hours of the event
Most Popular
CCL Earnings: Carnival Corp. Q4 2024 revenue rises 10%
Carnival Corporation & plc. (NYSE: CCL) Friday reported strong revenue growth for the fourth quarter of 2024. The cruise line operator reported a profit for Q4, compared to a loss
Key metrics from Nike’s (NKE) Q2 2025 earnings results
NIKE, Inc. (NYSE: NKE) reported total revenues of $12.4 billion for the second quarter of 2025, down 8% on a reported basis and down 9% on a currency-neutral basis. Net
FDX Earnings: FedEx Q2 2025 adjusted profit increases; revenue dips
Cargo giant FedEx Corporation (NYSE: FDX), which completed an organizational restructuring recently, announced financial results for the second quarter of 2025. Second-quarter earnings, excluding one-off items, were $4.05 per share,
Comments