The U.S. trade gap narrowed sharply in June as a strengthening global economy pushes up demand for American exports overseas.
The trade deficit with other nations contracted 5.9% from a month earlier to $43.64 billion, the Commerce Department said Friday. The deficit fell because exports rose 1.2% while imports fell 0.2%. ...
California exporters saw a modest gain in May according to the latest U.S. Census Bureau data. California business exports totaled about $13.5 billion – 1.2 percent increase over the May 2016 total of roughly $13.3 billion.
The strongest reading on U.S. factory activity in nearly three years signaled underlying health in the economy headed into the second half of 2017. The Institute for Supply Management on Monday said its index of U.S. manufacturing activity rose to 57.8 in June, its highest level since August 2014. A number above 50 indicates expansion; economists had expected a more modest rise from May’s 54.9.
California exports, off to a fast start through the first four months of this year, cooled off a bit in May. California businesses shipped merchandise valued at $13.49 billion in May, up a modest 1 percent from $13.35 billion in the same month last year.
U.S. manufacturing activity expanded and hiring at factories picked up in May, signs of healthy growth for a key sector of the economy. The Institute for Supply Management on Thursday said its closely watched index of U.S. manufacturing activity inched ahead to 54.9 in May from 54.8 in April. A number above 50 indicates expansion. ISM manufacturing readings for each month this year have now been higher than any month in 2015 or 2016.