Jan 13: Trade Deficit Contracts
Source: http://www.zacks.com/stock/news/16770/Jan+13%3A+Trade+Deficit+ContractsPosted on Tuesday, January 13th, 2009 | In Stocks to Watch
Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -
The Trade Deficit decreased to $40.4 billion in November from a $56.7billion deficit in October. This was the largest contraction in 12 years and the lowest level since 2003. November exports were $142.8 billion, $8.7 billion, less than October exports, and imports of $183.2.9 billion, $25 billion less than October imports. This reduction was fueled by lower gas prices and a decrease in Chinese imports. Advance 4th quarter GDP estimates are scheduled for release by the Bureau of Economic Analysis on January 30th, 2009 at 8:30 AM EST.
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