Exports, Energy Production are Bright Spots for the U.S. Economy

By Ray Pinard | August 21, 2013

 An interesting article by J.R. Reed, published on the FreeEnterprise.com website.

Thanks to increased U.S. exports and a significantly lower demand for oil imports, America’s trade deficit shrunk drastically in June – a trend that could signal great news for second quarter GDP numbers.

The Department of Commerce recently announced that the trade gap fell more than 22%. Exports rose 2.2%, the highest monthly rate since October 2012, to an all-time high of $191.2 billion, while imports declined 2.2% to $225.4 billion. Part of that drop off, according to Commerce is because foreign oil consumption fell to its lowest level in more than two years.

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 Originally published August 2013. Reprinted by permission, freeenterprise.com, August 2013.
Copyright©2013, U.S. Chamber of Commerce.

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