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IPFS News Link • Business/ Commerce

Q4 GDP Hopes Fade As US Trade Deficit Hits Widest Since Oct 2008

• https://www.zerohedge.com, by Tyler Durden

December also brings the annual revision and final data for 2017. For 2017, the goods and services deficit was $566.0 billion, up $61.2 billion from $504.8 billion in 2016.

Exports were $2,329.3 billion in 2017, up $121.2 billion from 2016. Imports were $2,895.3 billion in 2017, up $182.5 billion from 2016.

And finally, the trade deficit excluding petroleum at $49.84b in December - the widest trade deficit ever.

Full Breakdown:

Exports

Exports of goods and services increased $3.5 billion, or 1.8 percent, in December to $203.4 billion.

Exports of goods increased $3.4 billion and exports of services increased $0.1 billion.

The increase in exports of goods mostly reflected increases in industrial supplies and materials ($1.5 billion) and in capital goods ($1.2 billion).

The increase in exports of services mostly reflected increases in  travel (for all purposes including education) ($0.1 billion) and in maintenance and repair


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