Further Slippage in U.S. Foreign Trade; Mega Projects to the Rescue?
The U.S. foreign trade deficit deteriorated further in the latest month, sinking to -$972 billion USD in September 2021, an unwelcome record. The shortfall comes entirely in the trade of ‘goods,’ -$1.178 billion. The ‘services’ balance, which includes business and tourism travel, plus between-country costs of transporting cargo, remained above water, +$206 billion USD.
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