US Trade Deficit Hit A Record High In January
(Worthy News) – The U.S. trade deficit continued to grow in January as the import-export gap widened to a record high, The Wall Street Journal reported.
The trade deficit reached $89.7 billion in January, up $7.7 billion from December 2021’s $82 billion figure, the Census Bureau announced Tuesday. Economists surveyed by the WSJ predicted a January trade deficit figure of just $87.2 billion.
The trade deficit was fueled by surging foreign imports, especially higher vehicle and energy shipments, according to the Census Bureau. Tuesday’s report highlights a pickup in demand for foreign-made imports while demand for goods manufactured in the U.S. declined. [ Source: Daily Caller (Read More…) ]
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