2011 Trade Deficit Hits 3-Year High, Over $550 Billion
The Commerce Department has released its international trade data for the month of December. Why on earth this is not just called the Trade Deficit is a mystery. We have not had a single surplus month in trade in longer…
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The November trade gap from the prior month was originally reported as $47.75 billion., but that was revised lower to $47.06 billion.
The full preliminary figure for the trade deficit in 2011 is up 11.6% from 2010 at a level of $558.02 billion. That is the highest level since 2008. The deficit with China also hit a new record with an 8% gain to $295.46 billion.
JON C. OGG
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
