Posted on 09/08/2011 5:53:48 AM PDT by Free Vulcan
WASHINGTON (MarketWatch) — The trade deficit the United States runs with the rest of the world shrank in July, according to data released Thursday, as record exports helped offset the biggest trade gap with China in 10 months.
The Commerce Department said the trade deficit narrowed to a seasonally adjusted $44.8 billion in July from $51.6 billion in June, a decline of 13.1% — the largest percentage decline since February 2009. Economists polled by MarketWatch had expected a $51 billion deficit.
(Excerpt) Read more at marketwatch.com ...
When you have less money to spend in the rest of the world, and your dollar doesn’t go as far as it used to, your bill for goods and services will decrease. It’s called tightening the belt, and as more Americans feel the pinch of higher prices, and shrinking incomes, the more frugal they will become. Don’t expect anybody to get off of their money anytime soon.
“only” 45 billion lost in one month. Mostly to China.
Whew. What a relief.
Can we start the trade war yet?
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