U.S. January Trade Deficit $68.2 Billion; Consensus Deficit $67.6 Billion
By Yuka Hayashi
WASHINGTON -- The U.S. trade deficit widened in January as
American consumers stepped up purchases of imported products.
The deficit in trade of goods and services expanded by 1.9% to a
seasonally adjusted $68.2 billion in January, the Commerce
Department said Friday, compared with a $66.97 billion gap in
December. Analysts polled by The Wall Street Journal had projected
a deficit of $67.6 billion.
Imports increased 1.2% to $260.2 billion from December, while
exports grew 1.0% to $191.9 billion.
Americans splurged on consumer goods in January, helped by $600
payments many received as part of the latest round of government
stimulus spending to fight the impact of the pandemic. Retail sales
jumped a seasonally adjusted 5.3% in January from the previous
month, the biggest increase since June.
With the global economy on a recovery path, exports also
expanded modestly, bolstered by higher shipments of industrial
supplies and capital goods. Many countries loosened restrictions on
economic activity at a quicker pace as Covid-19 cases fell sharply
from their peak around the new year.
Write to Yuka Hayashi at firstname.lastname@example.org
(END) Dow Jones Newswires
March 05, 2021 09:09 ET (14:09 GMT)
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