US trade deficit widens and factory orders rise

File Reuters

UNITED STATES (VOP TODAY NEWS) — The US goods trade deficit widened sharply in December as exports came under pressure from slowing world demand and the dollar’s rise, a sign that economic growth slowed in the fourth quarter.

Data from the Commerce Department showed on Wednesday that orders for manufactured goods in the United States rose barely in December and that companies’ spending on equipment was much weaker than previously thought, indicating a decline in manufacturing activity.

The commodity trade deficit jumped 12.8 percent to 79.5 billion dollars in December, boosted by an increase in imports.

Exports fell 2.8 percent as shipments of food, industrial supplies and capital goods fell sharply. Imports rose 2.4 percent led by food, capital goods and consumer goods.

In another report on Wednesday, the Commerce Department said orders for factory goods rose 0.1 percent in December as demand for machinery, equipment, appliances and components fell.

The November data were revised slightly to show factory orders fall 0.5 percent from 0.6 percent in the previous reading.

This article is written and prepared by our foreign editors writing for VOP from different countries around the world – edited and published by VOP staff in our newsroom.

Our Standards, Terms of Use: Standard Terms And Conditions.

Online:

Support The VOP from as little as $1 – it only takes a minute. Thank you.

We are the Voice of People — the only funding and support we get from people – we are categorically not funded by any political party, any government somewhere or from any grouping that supports certain interests – the only support that makes VOP possible came from you.

Donate

$
Personal Info

Terms

Donation Total: $10.00

VOP Today News — Breaking news source, real-time coverage of the world’s events, life, politics, business, finance, economy, markets, war and conflict zones.

Contact us: voiceofpeopletoday@gmail.com

Stay connected with VOP Today News on Twitter – VOP Today News on Facebook, also with our online services http://j.mp/2hDUK4x and never lost the breaking news stories happening around the world.

Loading...