February 20, 2012 by NADCA in Industry News
AFP (2/11, Beatty) reported "the Commerce Department reported Friday that the US trade deficit widened to a six month high, thanks in large part to imports from China. Official data showed that the deficit deepened to $48.8 billion in December, the most since June 2011."
The AP (2/11, Crutsinger) reported, "Imports rose 1.3%, largely because the US bought more foreign autos, auto parts and industrial machinery. Exports increased 0.7%."
Bloomberg News (2/10, Chandra) reported, "Purchases of goods and services produced overseas were the strongest in more than three years on record demand for capital equipment like machinery and semiconductors. Imports may keep rising as an improving job market underpins consumer spending, and businesses rebuild inventories and replace outdated equipment. At the same time, demand from emerging markets is boosting sales at companies like General Electric Co. (GE) and Caterpillar Inc. (CAT), buffering the fallout from Europe's debt crisis and helping to sustain exports."