Wednesday, June 6, 2018

Your Good News of the Day: Trade deficit down a record amount


One month after the biggest plunge in the US trade deficit since the financial crisis - good news for Trump who has engaged in "trade war" with the rest of the world to boost US trader and exports - the good news continued in April, when according to the Census Bureau, the US deficit shrank again, down 2.1% from a revised $47.2BN to $46.2BN - the lowest since September 2017, and beating not only the $49BN consensus estimate, but also also the lowest Wall Street estimate of $46.2BN.

The number was so good, some were wondering why Trump didn't pre-tweet it, as he did with the payrolls report.
Incidentally, with today's revision, the March plunge in the US trade deficit has now risen to $10BN, the highest since 2008, and the second biggest improvement in the US deficit on record.
According to the census bureau, the deficit decreased from a revised $47.2 billion in March to $46.2 billion in April, amid a perfect trade environment as exports rose and imports declined for the second month in a row, or as Trump would say, "his policies to boost US trade worked."

1 comment:

  1. I just can't stop laughing with glee... Or maybe grunting like Tim "The Tool Man Taylor"!!!

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