The trade deficit increased 10.5% to $67.4-billion, the U.S. Commerce Department said on Tuesday
The U.S. trade deficit widened in December, reversing half of the prior month’s sharp contraction, as imports rebounded and exports of goods dropped to a 10-month low amid cooling global demand and declining crude oil prices.
Imports increased 1.3 per cent to $317.6-billion, with goods rising 1.8 per cent to $258.8-billion. They were boosted by imports of consumer goods, which jumped $4.1-billion, reflecting increases in cell phones as supply from China improved, and other household goods. Imports of motor vehicles, parts and engines rose $2.9-billion.
Imports of services fell $0.3-billion to $58.8-billion, pulled down by travel and transportation. But charges for the use of intellectual property increased $0.2-billion. Inflation adjusted or real exports of petroleum were the highest since February 2020 as were those of motor vehicles, parts and engines. Consumer goods exports fell $1.0-billion, but food exports rose $0.7-billion.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business confidence at new low, Ontario Chamber of Commerce survey saysOnly 16 per cent positive about 2023, amid inflation, labour shortages, recession worries - and concerns over health care
Read more »
Minister signs documents, nurse practitioners get retention payWhile other nurses in Ontario received $5,000, nurse practitioners didn’t receive money until December
Read more »
‘Made-in-Canada system’ keeps egg supply stable. But is it also keeping prices high? - Terrace Standard‘Made-in-Canada system’ keeps egg supply stable. But is it also keeping prices high?
Read more »
Style Q&A: E-commerce marketplace The LNK aims to introduce Canadian shoppers to 'ethnically diverse indie brands'Entrepreneur Sonya Gill has set out to connect North American consumers with up\u002Dand\u002Dcoming indie brands and ethnically diverse makers from around the world.
Read more »
Style Q&A: E-commerce marketplace The LNK aims to introduce Canadian shoppers to 'ethnically diverse indie brands'Entrepreneur Sonya Gill has set out to connect North American consumers with up\u002Dand\u002Dcoming indie brands and ethnically diverse makers from around the world.
Read more »
Style Q&A: E-commerce marketplace The LNK aims to introduce Canadian shoppers to 'ethnically diverse indie brands'Entrepreneur Sonya Gill has set out to connect North American consumers with up\u002Dand\u002Dcoming indie brands and ethnically diverse makers from around the world.
Read more »