Record-breaking exports in spite of COVID-19.
The Department of Commerce announced the nation’s export to import trade ratio on Wednesday. The results of the finding showed that the difference between what the nation imported and exported dropped by a record-breaking 7.5% in June. The U.S. exported $158.3 billion and imported $208.9 billion worth of goods last month.
The trade deficit also dropped with China in June by 4%. In the areas of trade goods such as aircraft and appliances the U.S. ran a deficit of over $72 billion but had a surplus of over $21 billion in the trade of services such as banking and education. The expectation from top economists is that consumption recovering from the COVID-19 pandemic is driving sales.
As the Lord Leads, Pray with Us…
- For God to provide the nation with the help it needs to recover from the pandemic recession.
- For God to help the Commerce Department with the best strategies for the national economy.
- For President Trump to have discernment as he works to support the economy.
Sources: AP, CNN, Fox News
