0 Members and 1 Guest are viewing this topic.
The numbers: The nation’s trade deficit fell almost 5% in September to a five-month low, aided by the first surplus in petroleum since at least 1978 and a decline in imports from Germany and China.The deficit slid to $52.5 billion from a revised $55 billion in August, the government said Tuesday, matching the forecast of economists polled by MarketWatch.Yet even after the decline in September, the U.S. is still on track to post an even larger trade gap in 2019 than it did in 2018.For the first time since the government began keeping track in 1978, the U.S. posted an overall surplus in petroleum totaling almost $300 million.The remarkable change from being a longtime net importer of oil stems from a fracking revolution that has turned the U.S. back into an energy superpower.https://www.marketwatch.com/story/us-trade-deficit-drops-47-to-5-month-low-helped-by-something-that-hasnt-happened-since-1978-2019-11-05
Still too high. But it is a start anyway. The Obama economy is finally in top gear, /s
Agreed.But think how hi it would be under Obama's throttling of oil production.
