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U.S. Trade Deficit Shrinks In January
Despite shrinking in January, the U.S. trade deficit could still weigh on first quarter economic growth. The nominal deficit in goods and services trade declined to $54.5 billion from an upwardly-revised $72.9 billion in December ($70.3 billion previously). After two monthly declines, exports snapped back 5.5% on broad based gains. Meanwhile, following sizable increases the prior two months, imports fell modestly amid widespread declines apart from continued purchases of computing equipment to feed the AI boom. On a regional basis, the U.S. goods trade deficit declined with Canada, Mexico and the EU, but continued to ... (full story)
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