US Trade Deficit has nudged slightly forward in its goal of developing a fiscally healthy nation with an economy that can perpetuate forward at a trade surplus (Ideally!). More positive then negative in the economic news but it does possibly indicate forward momentum. That will depend on how long declining deficit and GDP boosts carries on and whether that creates a trend. It could be a short blip on the screen or it could be prolonged as a new "normal". Could be either right? 🤔
My guess is with all of the geopolitical issues, infrastructure investments, AI, and other things going on in the wider environment, it could become more common....maybe a long term trend. Sputter, sputter, sputter, start up. (Like an old lawnmower) We have a lot of horsepower under the hood but we need to make the decisions that get us to top speed (We just got a tune up with infrastructure.).
What I'm looking for is whether changes in economic data indicate the U.S. has moved to a higher functioning economic platform based on infrastructure investments, increase in virtual transactions, adjustments in supply chain and increase in advance manufacturing (fyi...advanced manufacturing is typically the top of the supply chain. The top of the digital GDP is in creation/innovation and/or influence. Connecting innovation/creativity to create new products with advanced manufacturing often produces leading products that are difficult for other locations to match unless they meet similar conditions. i.e. national/regional manufacturing specializations)
I digress.....great article! Very nice and well thought out. Take notice of the great charts. I like them!
US Trade Deficit in 2023 Dropped 19%, as Goods Deficit with China Plunged 29%: Imports & Exports of Goods & Services
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