Although Bernanke and Geithner repeatedly point out that the U.S. does not want a weaker dollar and are not orinting money, the reality is that that weak U.S. dollar does wonders for the U.S. exports.
Bloomberg reports that the trade deficit in the U.S. narrowed 13% to $38.7 billion, and exports were the strongest since August 2008, with Mexico and... China (!) buying record amounts of U.S. products.
"The trade gap was projected to be little-changed at $43.8 billion from an initially reported $44 billion in September, according to the median forecast of economists surveyed. Estimates ranged from deficits of $39.5 billion to $46.6 billion. The Commerce Department revised the September shortfall up to $44.6 billion.
After eliminating the influence of prices, which are the numbers used to calculate gross domestic product, the trade deficit fell to $45.2 billion, the lowest since April, from $50.3 billion. The figure was smaller than the third-quarter average, indicating trade will contribute to growth this quarter.
Exports increased 3.2 percent to $158.7 billion, boosted by sales of foods, automobiles, engines and industrial supplies like fuel oil and natural gas".
Friday, December 10, 2010
Does the U.S. Want or Not a Weak Dollar: Triggers Surge in Exports
Subscribe to:
Post Comments (Atom)
Blog Archive
-
▼
2010
(1051)
-
▼
December
(28)
- Brazilian Companies Plan Big Global Expansions
- Brazil is Booming Everywhere; In Pictures
- The Sky is the Limit For China´s Sinopec Investmen...
- Europe, United States, Brazil and Canada Reached A...
- Brazil´s Lula Government: Real Currency Appreciate...
- The Petrobras Effect: Brazilian Stock Exchange Has...
- Brazil: Industry and Unions Team Up Against Imports
- Live Impressions From Brazil: Ethanol, Gasoline, E...
- Does the U.S. Want or Not a Weak Dollar: Triggers ...
- IMF: Europe Remains in Trouble; Worsening Problems...
- NO MORE SHOUTING: Google Kills the Caps Lock
- The Case for RIM: No iPhone in India
- Brazilian Inflation Jumps in November, Highest in ...
- Can Ireland Cut Budget Like Canada? No, Why Canada...
- Watch Bernanke's Interview With 60 Minutes; Says H...
- The Top Dividend ETFs For The End of 2010 (and 2011?)
- RBS Recommends Buying CDS Insurance Against Possib...
- Groupon Walks Away From $6B Acquisition by Google
- Twitter: The $3B Company
- Bill Gross: Fed Will Not Raise Rates For Years
- Dreadful Jobs Report: 39,000 vs Expected 159,000, ...
- Stiglitz on the Economist: The U.S. Is Entering A ...
- Is the Bond Bubble Finally Popping?
- Overheated Brazil Raises Bank Reserve Requirements...
- Money, Money, Money: Russia and Qatar Win 2018 and...
- European Crisis: Portugal Should Seek Loans from B...
- Volcker: U.S. Dollar Is In Danger, U.S. Example No...
- Fed To Name Today Who Received $3.3T During Crisis
-
▼
December
(28)
No comments:
Post a Comment