In February, exports of goods and
services increased 0.2 percent to $192.9 billion, the highest level
since December 2014. Exports were lifted by gains in the shipments of
automobiles and parts, which were the highest since July 2014.
Exports of industrial supplies and materials were the highest since December 2015. There was an 8.0 percent jump in exports to the European Union, with goods shipped to Germany surging 8.6 percent. Exports to the United Kingdom soared 17.3 percent and Japan also bought more goods from the United States.
However, exports to China fell 2.7 percent and Mexico saw a 7.1 percent drop in goods shipped from the United States.
Imports of goods and services fell 1.8 percent to $236.4 billion amid declines in imports of cell phones and motor vehicles. Imports had risen in recent months, in part on higher oil prices. There was a drop in crude oil imports in February.
Some of the decline in imports in February likely reflects slower consumer spending. Data on Friday showed real consumer spending decreased for a second straight month in February, the first back-to-back monthly decline since April 2009.
Still, food imports hit a record high in February and imports of capital goods were the highest in nearly two years. Imports of goods from China tumbled a record $8.6 billion to $32.8 billion in February, a 20.8 percent drop from January.
Exports of industrial supplies and materials were the highest since December 2015. There was an 8.0 percent jump in exports to the European Union, with goods shipped to Germany surging 8.6 percent. Exports to the United Kingdom soared 17.3 percent and Japan also bought more goods from the United States.
However, exports to China fell 2.7 percent and Mexico saw a 7.1 percent drop in goods shipped from the United States.
Imports of goods and services fell 1.8 percent to $236.4 billion amid declines in imports of cell phones and motor vehicles. Imports had risen in recent months, in part on higher oil prices. There was a drop in crude oil imports in February.
Some of the decline in imports in February likely reflects slower consumer spending. Data on Friday showed real consumer spending decreased for a second straight month in February, the first back-to-back monthly decline since April 2009.
Still, food imports hit a record high in February and imports of capital goods were the highest in nearly two years. Imports of goods from China tumbled a record $8.6 billion to $32.8 billion in February, a 20.8 percent drop from January.
No comments:
Post a Comment