Here’s some good news for a change, news that was obscured by less good news around the world yesterday: The trade deficit narrowed, as exports soared, thanks in part to a lower dollar. As we’ve noted here before, that makes our manufactured stuff cheaper overseas. We found only this article on Google, from Hong Kong, touting the news. June was the 8th consecutive month in which our exports of manufactured goods grew faster than US imports of manufactured goods. This is very encouraging for US manufacturers. Our exports we up 13%, while imports were up only 9%.
According to the US Department of Commerce, US exports to China alone increased almost 20% from 2004 to 2005. Though May of 2006, they have increased 37%
Here’s a link to our press release on the topic, touting and applauding the good news. We still have a long way to go, but this is moving in the right direction.
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