Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
U.S. trade deficit rises to near five-year high
The U.S. trade deficit jumped to a near five-year high in January as rising oil prices helped to push up the import bill, suggesting trade would again weigh on economic growth in the first quarter.
The Commerce Department said on Tuesday the trade gap increased 9.6 percent to $48.5 billion, the highest level since March 2012. December's trade deficit was unrevised at $44.3 billion.
Economists polled by Reuters had forecast the trade gap rising to $48.5 billion in January. When adjusted for inflation, the deficit rose to $65.3 billion from $62.0 billion in December. Both the inflation-adjusted exports and imports were the highest on record in January.
http://www.reuters.com/article/us-usa-economy-idUSKBN16E1OJ
