Data Digest: U.S. trade gap shrinks dramatically
The numbers: Exports were up 1.8 percent in July for a total value of $153.3 billion. Imports, which had been growing, fell 2.1 percent to $196.1 billion.
Quick take: Things aren't looking as dire as they were a month ago when the June trade figures were released. In the second quarter of this year, a sharply widening trade gap cut 3.4 percentage points off of U.S. GDP. The fact that the trade gap contracted means that the GDP could be higher than previously expected.
What it means for you: An increase in exports could lead to more U.S.-based jobs.
Data source: Commerce Department
Washington Post editors
September 9, 2010; 4:18 PM ET
Categories: *Data Digest
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