Trade deficit climbs higher in December
Adjust font size:
Manufacturing News, Source : TheManufacturer.com
Published : 21 Feb 2003 16:50
The Commerce Department reported that the monthly trade deficit grew by $4.2 billion in December to $44.2 billion, as countries such as Japan, Europe, and South America pulled the breaks on ordering US goods.
Manufacturing exports fell 5.7% to $563 billion, and agricultural, mining, and services exports experienced modest gains. Imports from foreign countries, notably China, increased, leading the annual trade deficit to rise to $435.2 billion, following 2001’s $358 billion.
“In terms of trade, 2002 was a real downer as manufacturing exports dropped by $2.1 billion in December to an eight-month low,” said Jerry Jaskinowski, president of the National Association of Manufacturers. “Last year, manufacturing output edged up by less than 2%— the slowest first year ‘recovery’ in the past 40 years. The absence of an export recovery is a critical element of this weakness, and the strong dollar remains a major impediment to our exports.”
Comments on this story
click here to add a comment
You must be registered & logged in to add comments
already have an account and just want to login?
Related Content
Guest Editorial: Checklist - Seven Recommendations for Improved Profits
by Abbott A. Imberman, PhD, Professor of...
more…
FKI LOGISTEX OPENS NORTH AMERICAN TECHNOLOGY & EDUCATION CENTER (TEC)
(St. Louis, Missouri, USA: July 10, 2007) FKI...
more…
Guess selects the tradecard platformand SourceView suite to optimize global trade
NEW YORK, July 10, 2007 – TradeCard Inc., the...
more…
Kimberly-Clark Professional Crosses Final Touchless Frontier With Introduction of First Electronic Bath Tissue Dispenser
ROSWELL, Ga. (July 9, 2007) – Kimberly-Clark...
more…
Boeing Celebrates the Premiere of the 787 Dreamliner
EVERETT, Wash., July 08, 2007 -- Today, Boeing...
more…
no comments yet...