Trade Deficit Goes Down

UPSHOT

Updated Apr. 21, 2017 4:08PM EDT / Published Aug. 09, 2012 1:50PM EDT

Pablo Martinez Monsivais / AP Photo

Who says the U.S. doesn’t make anything the world wants anymore? On Thursday, the Commerce Department reported the U.S. sent a record $185 billion in goods and services abroad in June. The trade data represents good news on several fronts. Imports fell in part because of a decline in the value of oil-related stuff we brought in from overseas. (Translation: thanks to lower oil prices, Americans had to spend less cash on overseas oil.) Despite slower growth abroad, foreigners still have a healthy appetite for stuff that’s made in America. And the smaller trade deficit indicates the pace of economic growth is picking up.

Read it at The Daily Beast

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Trade Deficit Goes Down

Pablo Martinez Monsivais / AP Photo