U.S. Trade Deficit Widens Significant In December As Imports Jump, Exports Plunge
(RTTNews) - A report released by the Commerce Department on Wednesday showed the U.S. trade deficit widened significantly in December, as imports surged and exports plunged.
The Commerce Department said the trade deficit spiked to $98.4 billion in December from a revised $78.9 billion in November.
Economists had expected the trade deficit to jump to $96.6 billion from the $78.2 billion originally reported for the previous month.
The substantial increase in the size of the trade deficit came as the value of imports shot up by 3.5 percent to $364.9 billion, while the value of exports tumbled by 2.6 percent to $266.5 billion.
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U.S. Trade Deficit Spikes To Over Two-Year High In December
A report released by the Commerce Department on Wednesday showed the U.S. trade deficit widened significantly in December, as imports surged and exports plunged. The Commerce Department said the trade deficit spiked to $98.4 billion in December from a revised $78.9 billion in November. Economists had expected the trade deficit to jump to $96.6 billion.
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Payroll processor ADP released a report on Wednesday showing private sector employment in the U.S. increased by more than expected in the month of January. ADP said private sector employment climbed by 183,000 jobs in January after rising by an upwardly revised 176,000 jobs in December. Economists had expected private sector employment to rise by 150,000 jobs.
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U.S. Private Sector Employment Increases More Than Expected In January
Payroll processor ADP released a report on Wednesday showing private sector employment in the U.S. increased by more than expected in the month of January.
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U.S. Factory Orders Slump More Than Expected In December
Reflecting a steep drop by orders for transportation equipment, the Commerce Department released a report on Tuesday showing new orders for U.S. manufactured goods decreased by more than expected in the month of December. The Commerce Department said factory orders slumped by 0.9 percent in December after sliding by a downwardly revised 0.8 percent in November.
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U.S. Job Openings Pull Back Much More Than Expected In December
The Labor Department released a report on Tuesday showing job openings U.S. fell by much more than expected in the month of December. The report said job openings tumbled to 7.6 million in December after climbing to an upwardly revised 8.2 million in November. Economists had expected job openings to dip to 8.0 million from the 8.1 million originally reported for the previous month.
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U.S. Construction Spending Climbs Much More Than Expected In December
A report released by the Commerce Department on Monday showed construction spending in the U.S. increased by much more than expected in the month of December. The Commerce Department said construction spending climbed by 0.5 percent to an annual rate of $2.192 trillion in December after rising by 0.2 percent to a revised rate of $2.180 trillion in November.
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U.S. Manufacturing Index Indicates Growth For First Time In Over Two Years
Following 26 consecutive months of contraction, the Institute for Supply Management released a report on Monday showing U.S. manufacturing activity expanded in the month of January. The ISM said its manufacturing PMI rose to 50.9 in January from 49.2 in December, with a reading above 50 indicating growth. Economists had expected the index to inch up to 49.8.
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